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Level 1
June 1, 2019
Question

Llc partnership filing separately

  • June 1, 2019
  • 1 reply
  • 4 views

Hello, we just got married last year, but in the same year opened a partnership LLC. We would like to file separately this year instead of jointly. How do we go about reporting the LLC sales and deductions? Do we each take half, or does one person take it all? 

1 reply

Lisa995
Alumni - Champ
Alumni - Champ
June 1, 2019
Partnerships file a 1065 partnership return, then each partner gets a Form K-1 from the partnership to include on their individual personal returns.     Partnership returns are due by March 15th, 2017.   You need TurboTax Business for prepare and file a partnership return.
https://turbotax.intuit.com/small-business-taxes/
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