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Question

Did I need to file a partnership LLC with no income or expenses?

Forum|Forum|2 years ago
July 2, 2023
1 reply
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TurboTax Premier Online

Employee

Did I need to file a partnership LLC with no income or expenses?

You did not have to file if you have a multi-member LLC (by default treated as a partnership for federal income tax purposes) and the LLC had neither income nor expenses.

See https://www.irs.gov/instructions/i1065#en_US_2022_publink11392vd0e555

....every domestic partnership must file Form 1065, unless it neither receives income nor incurs any expenditures treated as deductions or credits for federal income tax purposes

Employee

Most states also have an ongoing mandatory fee – usually paid every 1 or 2 years – which keeps your LLC in compliance and in good standing.

https://www.llcuniversity.com/llc-filing-fees-by-state/

Employee

If the partnership has assets that are being depreciated, then you do have expenses in the form of depreciation. So you'd need to file.