I created a partnership LLC in 2022 and had no income or significant expenses. Am I required to file a 1065 return?

Forum|Forum|3 years ago
March 4, 2023
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I created a Vermont partnership LLC (2 members) in 2022 and had no income or significant expenses. Am I required to file a 1065 return with a bunch of zeros?

Not A Product Question

Best answer by Anonymous_

Except as provided below, 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.

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

Anonymous_Answer

Employee

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

MD331Author

Thanks for that link! My partnership LLC was created to purchase a rental property and the deal fell through a couple days before closing. There are not enough expenses to deduct to justify the return and zero income. That's one less 1065 I need to do this year 🙂