W-9 for General Partnership or Owners in Common?

2 Replies

My partners and I were just given a W-9 by the organization that pays our tenants rent. We have a DBA and an EIN however we have not officially formed the Partnership and filed paperwork with the state (Maryland). We haven't decided if we were going to actually form the partnership officially or not since the taxes become so complicated. We were hoping that we could just be co-owners of the rental property (we are all on the title).

That being said, in either case we are unsure how we should fill out the W-9. Specifically what name should we put on Line 1? Can all of our names go on Line 1 and then we use the EIN number? In the eyes of IRS we are all associated with the EIN. 

We just don't have a legal business name to put on Line 1 and the organization will be writing checks to us so Line 1 would need to be one of our names to deposit the checks into our joint bank account. 

Any help with this would be so helpful. Thanks! 

Originally posted by @Brendan August :

My partners and I were just given a W-9 by the organization that pays our tenants rent. We have a DBA and an EIN however we have not officially formed the Partnership and filed paperwork with the state (Maryland). We haven't decided if we were going to actually form the partnership officially or not since the taxes become so complicated. We were hoping that we could just be co-owners of the rental property (we are all on the title).

That being said, in either case we are unsure how we should fill out the W-9. Specifically what name should we put on Line 1? Can all of our names go on Line 1 and then we use the EIN number? In the eyes of IRS we are all associated with the EIN. 

We just don't have a legal business name to put on Line 1 and the organization will be writing checks to us so Line 1 would need to be one of our names to deposit the checks into our joint bank account. 

Any help with this would be so helpful. Thanks! 

If you have an EIN, that means you have created a tax entity. So looks like you have formed general partnership from tax perspective. 

@Ashish Acharya thanks for the response, yea that is what I figured. So on the W-9 for Line 1 we would use the name of the Partnership that is associated with the EIN (which is just our personal names listed out). 

If we wanted to go the route of just co-owners instead could we put 1 of our names on the W-9 with that individuals social security number instead and then the 1099 would be issued to that person and checks would be made out to them and deposited into our joint bank account. Then at tax time we all just file Schedule E's? I'm not sure how the information from the 1099 would be associated with any of the other 2 people in the co-ownership though. 

Thanks!