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R
Redheather
Employee
June 5, 2019
Question

What is a reportable entity partner on LLC 1065 form?

  • June 5, 2019
  • 1 reply
  • 0 views

there is no income for the partnership this year, and the value is less than $100,000.00

1 reply

J
JulieH1
June 5, 2019

 A reportable entity partner with respect to a partnership filing Form 1065 or Form 1065-B is an entity that:

Owns or is deemed to own, directly or indirectly, under these instructions, a 50% or greater interest in the income, loss, or capital of the partnership on any day of the tax year, and

Was required to complete Schedule M-3 on its most recently filed U.S. federal income tax return or return of income filed prior to that day.

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