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March 19, 2020
Question

Should I be expecting Form 1065? I had an LLC for a short time last year and I am trying to file taxes, but I have not received anything like that. Where can I see?

  • March 19, 2020
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March 19, 2020

Form 1065 is prepared by the owner of the LLC, so unless you, or your partners, hired someone to do that for you, you will not get a copy of it in the mail.

 

How you file taxes for an LLC depends on who owns the company and whether you have made any elections yet. 


If you are the sole owner of the company and you have not asked permission to be treated as a corporation by filing Form 2553, you can file a self-employment schedule with your regular tax return in TurboTax. 


I there is more than one owner of the LLC, and you have not asked permission to be treated as a corporation by filing Form 2553, you need to file Form 1065 to report your business income and expenses.

 

That is a separate business entity tax return and you have to use TurboTax Business or a tax professional to file your business return.

 

Click here to learn more about TurboTax Business.


If the business didn't have any income at all in 2019, and was dissolved before the end of the year, you may not need to file anything for your business. 

 

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