Newly formed LLC with 3 partners

Forum|Forum|6 years ago
January 23, 2020
2 replies
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We have a newly formed LLC with 3 partners. It was formed in November of 2019. The LLC does have loss/profit in these 2 months. Do I need to file a 1065 form for just the 2 months of 2019 or do I need to include the whole year on my 1065 form?

DawnC

Level 15

That tax return (Form 1065) will be for all of 2019, however, you will only have activity for those 2 months. The numbers should be the same.

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Rick19744

Level 13

I have attached a link to the instructions to form 1065. You will not on page 3 (under who must file) that if the LLC does not have any income or expenses treated as deductions, then a return is not required.

So if those are your facts, you do not have a filing requirement for 2019.

https://www.irs.gov/pub/irs-pdf/i1065.pdf

Anything outside of those parameters, you will need to file a form 1065 for 2019.

*A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.