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Married couple owns 100% of an S Corporation as Tenancy by the Entireties. K1 issued to husband under his SSN. They choose to file Married Separately. How is the income reported1. 100% Husband?2. 50/50?3. Can they choose whose return it goes on?Thank youLarry Slivinski
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The actual stock ownership in the S Corporation will dictate whose return the K-1 gets reflected on. There is not an option to split it if the stock is in one name. If the stock is owned jointly then, on a separate return the name and Social Security number appearing first will dictate.
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