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Level 2
January 31, 2020
Question

I have a partnership llc on the business taxes where do I intially put the purchase of a property? No income

  • January 31, 2020
  • 9 replies
  • 18 views
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    9 replies

    Level 15
    January 31, 2020

    Which TurboTax version are you using? Is your LLC a single-member or multi-member LLC?

    ad05Author
    Level 2
    January 31, 2020

    multi-member and business turbotax

     

    I am still not certain that we need to file a tax return with no income...

     

     

    Level 15
    January 31, 2020

    Multi-member LLCs are treated the same as partnerships in terms of filing requirements.

     

    You need to file a return (1065) for the LLC unless it had absolutely no income and no expenditures.