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Do I have to file form 1065 if LLC has no income or expenses?
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Do I have to file form 1065 if LLC has no income or expenses?
According to the IRS Instructions for Form 1065, you would not be required to file a partnership return if there has been no income or deductions:
Except as provided below, every domestic partnership must file Form 1065, unless it neither receives income nor incurs any expenditures treated as deductions or credits for federal income tax purposes.
Entities formed as LLCs that are classified as partnerships for federal income tax purposes have the same filing requirements as domestic partnerships.
If you choose to do so, Form 1065 can be filed using TurboTax Business. Click the following link for more information about TurboTax Business: https://turbotax.intuit.com/small-business-taxes/
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Do I have to file form 1065 if LLC has no income or expenses?
According to the IRS Instructions for Form 1065, you would not be required to file a partnership return if there has been no income or deductions:
Except as provided below, every domestic partnership must file Form 1065, unless it neither receives income nor incurs any expenditures treated as deductions or credits for federal income tax purposes.
Entities formed as LLCs that are classified as partnerships for federal income tax purposes have the same filing requirements as domestic partnerships.
If you choose to do so, Form 1065 can be filed using TurboTax Business. Click the following link for more information about TurboTax Business: https://turbotax.intuit.com/small-business-taxes/
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Do I have to file form 1065 if LLC has no income or expenses?
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Do I have to file form 1065 if LLC has no income or expenses?
Check your state rules as they may differ ... FL for instance will issue a late filing fee even for a zero income return.
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