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March 24, 2024
Question

Filing a QJV

  • March 24, 2024
  • 1 reply
  • 0 views

Hi,

 

I am trying to file a QJV in WA state. I know I have to split out the expenses & income for the business between husband & wife & enter those on a Sch C for each of us, but what about the assets? Would I split those out between the percentages for husband and wife? 

1 reply

AmyC
March 26, 2024

Yes, everything is cut in half. You can enter the asset on both returns at half the price, since you each paid half.

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