"A qualified joint venture is a joint venture involving the conduct of a trade or business, if (1) the only members of the joint venture are a husband and wife, (2) both spouses materially participate in the trade or business."
Given that, if a 1099-MISC is issued with the SSN of just one spouse, how is that recorded on the tax forms? Imagine for sake of the answer that it's a 60%/40% joint venture, and that 1099-MISC forms exist for both spouses.
Can TurboTax handle this? Will each spouse share the income (less expenses) for purposes of Social Security, Dependent Care Credit, etc?