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ron2024
Returning Member

From multiple members LLC to a single member LLC. do i need to check the "final" box on my 1065 tax return?

From multiple members LLC to a single member LLC. do i need to check the "final" box on my 1065 tax return?
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PatriciaV
Expert Alumni

From multiple members LLC to a single member LLC. do i need to check the "final" box on my 1065 tax return?

Yes, if this is the last year you will file Form 1065 for this entity, check the box for "final." This will also mark all Schedules K-1 as final. 

 

You will also need to file IRS Form 8832 to revoke the partnership election for the LLC. This informs the IRS that you will report the LLC activity on your personal 1040 return in the future.

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