Re: [taxchat] Husband-Wife LLC & OIH

Wisconsin does not allow joint ventures. At least not in 2007. From WI Sch I instructions:

 

(b) Wisconsin – The election not to be treated as a partnership

is not available for Wisconsin. A partnership

return must be filed for a married couple who jointly

operates an unincorporated business.

----- Original Message ----
From: Lynne Ayton <taxaid@wi.rr.com>
To: taxchat@yahoogroups.com
Sent: Tuesday, October 28, 2008 1:53:18 PM
Subject: Re: [taxchat] Husband-Wife LLC & OIH

drake allows you to put J on a sched c, & the 8829 automatically goes to the sched c also, but will create 1 SE's for each spouse.  WI doesnt say it "wont" allow h/w llc's, so my guess is, you can file a joint sched C if state law allows it.
lynne


Mel Wolfson wrote:

I believe that an LLC can not elect to be treated as two Schedule Cs.

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