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March 2, 2025
Question

Can I file form 1065 on my own as I only made $19 in my Parternship?

  • March 2, 2025
  • 1 reply
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    March 2, 2025

    Yes, you can file Form 1065 on your own if your partnership had any income. Here are the key points:

    1. Filing Requirement: If your partnership had any income, you generally required to file Form 1065
    2. Schedule K-1: You must also issue Schedule K-1s to each partner, which report their share of the partnership's income, deductions, and credits
    3. Deadline: The deadline to file Form 1065 and distribute K-1s is March 15, 2024. If you need more time, you can file for an extension
    4. Using TurboTax: You can use TurboTax Business to file Form 1065 and generate K-1s for your partner

    For more details, you can refer to the IRS instructions for Form 1065.