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I have a business Schedule C, not LLC, husband and wife. They qualify for the Qualified Joint Venture.
on schedule C it asks if both T and S work in this business.
I check this and it will not let me do a Schedule C in the S name and SS number.
The point is to have S be able to get credit for income for SS
What am i missing. Thank you
Judy
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I have no idea what that Joint box is supposed to do.
Create and file two separate Schedule Cs.
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ThanK you. That is what I am doing, but I do not see where I can elect a qualified joint venture.
Appreciate your getting back to me.
judy
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You elect by just reporting it on two Schedule Cs. There is no need to make a formal statement for the election.
Personally, I add it to the business/profession line. So rather than entering "Cleaning Services", I call it "QJV: Cleaning Services".
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Thanks again.