Husband/Wife LLC - Posted by Stephen

Posted by JHyre in Ohio on May 02, 2002 at 06:56:44:

Bronchick had received an IRS letter ruling permitting husband & wife LLC to file on 1040 instead 1065 (partnership return).

John Hyre

Husband/Wife LLC - Posted by Stephen

Posted by Stephen on May 01, 2002 at 14:16:40:

I am creating a LLC for 4 rental properties that have been held in my and my wife’s name for the last few years. I want to continue to be able to file a schedule E on my tax return.

Can I set this up as a 2 member LLC with myself being the manager and both my wife and myself be members without losing the benefit of filing on schedule E only. If I have no employees is it true that I do not need a Fed ID number?

Is there an alternative setup that would accomplish the same thing?