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dakien
Returning Member

2021 form 1065 refund of customer deposit

Finishing up my 2021 1065 2 member llc   

We refunded a client's  $17,500 deposit     where would I enter this 

 

Thanks in advance for any help or guidance 

 

4 Replies
Carl
Level 15

2021 form 1065 refund of customer deposit

When did you refund the money? 2021 or 2022?

 

dakien
Returning Member

2021 form 1065 refund of customer deposit

2021

Critter-3
Level 15

2021 form 1065 refund of customer deposit

If you did not include it in the income you have nothing to expense... you just had less income to report.    

 

If you did add the deposit into income and refunded in 2021 then it goes on line 1B of the form 1065. 

dakien
Returning Member

2021 form 1065 refund of customer deposit

thanks for your help

 

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