tpham141762
Level 1
12-06-2019
07:17 PM
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do we still have to file 1065?
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abctax55
Level 15
12-06-2019
07:18 PM
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"Tax software is no substitute for a professional tax preparer"
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abctax55
Level 15
12-06-2019
07:18 PM
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"Tax software is no substitute for a professional tax preparer"
IRonMaN
Level 15
12-06-2019
07:18 PM
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Do you have a formal partnership established?
Ukraine - hang in there
George4Tacks
Level 15
12-06-2019
07:18 PM
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For a little light reading to get you started before you contact a paid tax professional. https://www.thetaxadviser.com/issues/2008/aug/avoidingtheself-rentaltrap.html
Here's wishing you many Happy Returns
Marc-TaxMan
Level 8
12-06-2019
07:18 PM
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H&W count as 1 taxpayer. Partnership requires at least 2 partners.
I have seen 1065s with H&W as sole partners, but I do not think it's right
TaxGuyBill
Level 15
12-06-2019
07:18 PM
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They may be considered as one taxpayer for some purposes, but not for determining if a Partnership exists.
Level 15
12-06-2019
07:18 PM
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"i have a business paid rent to my wife"
Is this part of the rental partnership?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Is this part of the rental partnership?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
tpham141762
Level 1
12-06-2019
07:18 PM
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Yes, it is a part of the rental partnership.