Question

Form 1065

Forum|Forum|5 years ago
January 15, 2021
1 reply
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Can I file more than one 1065? The membership changed and before the change there was a net loss, after the change was a net profit. How do I recognize the loss/profit properly?

TurboTax Business Windows

Critter-3

SEEK professional assistance to file a partnership return where the membership changed during the year ... the DIY program is not a wise choice in this situation and will not do the work or be helpful if you don't know what you are doing and neither will tech support. Now if the number of partners went down to 1 after the change then you need to file a final 1065 for the closed partnership ... again seek professional help.