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Schedule C or 1065 how do I decide

BeBe40
Level 1

My tax client asks at what point should he separate business taxes from personal.  His company has issued him a 1099

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Just-Lisa-Now-
Level 15
Level 15

A 1065 is for partnerships, so unless he has a partner, that's not an option.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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2 Comments 2
Just-Lisa-Now-
Level 15
Level 15

A 1065 is for partnerships, so unless he has a partner, that's not an option.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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TaxMonkey
Level 8

You would file a 1065 when he has one or more partners in his business.  His business should already be separate from his personal.

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