Splitting 1099-MISC Between Spouses in Qualified Joint Venture
My wife and I run our family childcare business together, and we will elect to be treated as a Qualified Joint Venture this year by filing two Schedule C's, and splitting our income/expenses between the two.
We received a 1099-MISC from our CACFP sponsor for the meal reimbursements we received. It includes my wife's name, the business name, and my wife's SSN. Can/should we also split the amount on the 1099-MISC between our two Schedule C's, or would this cause trouble with the IRS because the 1099-MISC amount we report on her Schedule C does not match the actual 1099-MISC? |
split CACFP income
Originally Posted by AppleCoreBaltimore: |
Thanks Tom! This is really helpful, along with tons of good info I got from your blog.
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