Joint Ownership of LLC by Spouse in Community Property States
Rev. Proc. 2002-69 addressed the issue of classification for an entity that is solely owned by husband and wife as community property under laws of a state, a foreign country or possession of the United States.
If there is a qualified entity owned by a husband and wife as community property owners, and they treat the entity as a:
Disregarded entity for federal tax purposes, the Internal Revenue Service will accept the position that the entity is disregarded for federal tax purposes. Partnership for federal tax purposes, the Internal Revenue Service will accept the position that the entity is partnership for federal tax purposes.
我家老公上班，有W2收入，我在家打理出租房，可以claim real estate professional. 有个LLC，是两人共同拥有，ownership 50% - 50%. 去年LLC收入为负，大约2万块。我可以用1万块去抵消老公的W2收入，还是2万块？谢谢
did that.
was more than 750 hrs.
Joint Ownership of LLC by Spouse in Community Property States
Rev. Proc. 2002-69 addressed the issue of classification for an entity that is solely owned by husband and wife as community property under laws of a state, a foreign country or possession of the United States.
If there is a qualified entity owned by a husband and wife as community property owners, and they treat the entity as a:
Disregarded entity for federal tax purposes, the Internal Revenue Service will accept the position that the entity is disregarded for federal tax purposes. Partnership for federal tax purposes, the Internal Revenue Service will accept the position that the entity is partnership for federal tax purposes.https://www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-companies
https://www.irs.gov/businesses/small-businesses-self-employed/election-for-married-couples-unincorporated-businesses#:~:text=A%20qualified%20joint%20venture%20is,be%20treated%20as%20a%20partnership.
Could you please confirm? It's very helpful, thanks.
Because MI is not a community property state, your LLC is a partnership that has to report K1 form.
https://www.irs.gov/pub/irs-pdf/f1065sk1.pdf
see box 2 (net rental property income/loss).
So the 20K loss has to be divived between you and your husband and report on K1.
Your husband's 10K cannot be deducted.
Check with a CPA, this is my understanding.
当学生的时候租一个老太太的房子，整个房子全租出去了。每周有好几天房东老太太总要来在porch上坐几个小时。很好奇，有一次问她这么冷为啥要在哪里坐着，她说因为她出租房子，每月一定要干多少小时的有关工作，她在那里坐着算工作。
https://www.youtube.com/watch?v=V1LpiKldakQ