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March 5, 2025
Question

How can I add personal taxes to my llc taxes?

  • March 5, 2025
  • 1 reply
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It is not letting me input any personal taxes for my husband or I on our partnership llc.

    1 reply

    March 5, 2025

    If you have a multi-member LLC (you and your husband) then you will report your business income and expenses on Form 1065.  When you are finished with your partnership return - Form 1065, you will have a Form K-1 for each of you.  The K-1 reports each partner's share of income and deductions.  You will then report both K-1s on your personal tax return (assuming you are filing a joint return).  You can think of the K-1 as your "Form W-2" from the partnership since it reports your income.  You do not report any personal expenses on your business tax return - the form 1065.  All of your personal tax income and deductions are reported on your personal tax return - Form 1040.  

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    March 5, 2025

    Thank you!