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Updated over 3 years ago,
W-9 for General Partnership or Owners in Common?
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!