To amend the Internal Revenue Code of 1986 to allow a married couple who operates an unincorporated business as co-owners to file separate returns for purposes of the self-employment tax, and for other purposes.

Summary

Amends the Internal Revenue Code to provide that with respect to a qualified joint business conducted by a husband and wife who file a joint return: (1) such joint business shall not be treated as a partnership; (2) all items of income, gain, loss, deduction, and credit shall be divided between the spouses as they designate; and (3) each spouse shall take into account such spouse's respective share of such items as if attributable to a sole proprietorship. Includes each spouse's share of income or loss from a qualified joint business in determining net income from self-employment.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 3 April 2003

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• Introduced in House (PDF)

  Introduced in House · EN · 3 April 2003

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 3 April 2003

  Open at official source

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