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Husband/wife partnership: How to file

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in Small Business Tax

Q. My wife and I started a joint business last year, but we never drafted any corporate or partnership papers. Should we file Schedule C as self-employed individuals? H.B.

A. Generally, no. If you and your spouse own and operate a business together and you share in the profits and losses, you are technically partners in a partnership. It doesn’t matter if you have a formal partnership agreement in place or not. Instead of a Schedule C, use Form 1065 (U.S. return of Partnership Income) to report your income and losses. You can print out Form 1065 at

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