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My question is basically summed up in the title. My wife and I are active members of a new LLC which also has other members. The LLC is taxed as a partnership, so profit/loss is simply passed through to members, and we each receive profit/loss distributions from the LLC at the end of the year.

Traditionally we have filed a joint tax return, and would like to continue to do so if possible.

My thought is that we can continue to file jointly, since profit or loss from business can be reported respectively for each of us on a joint return (correct?).

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    This may vary based on tax jurisdiction. Your profile says South Korea. If that's accurate, please flag your question with that tag, or I'd be happy to do so for you. – ChrisInEdmonton Nov 5 '13 at 18:15
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Since from the question it seems that you're talking about the US taxation, I'll assume that.

You can definitely continue filing jointly. Being members of a partnership has no bearing on how you file your own tax return. The partnership will distribute K-1 to each of you separately, but you'll report both of them on the same return.

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    Yes, US taxation: sorry not to specify. And thanks for the answer. – Jordan Magnuson Nov 6 '13 at 6:26
  • @littleadv - tough to imagine any investment forcing a married couple to file separately. – JTP - Apologise to Monica Nov 6 '13 at 14:48

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