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smsantella
Level 2

Do I select yes or no to "informational returns filed under the return employer ID number"?

  • Multi-member LLC
  • For tax purposes, considered a partnership
  • Initial filing year (2020) for the LLC
  • Operating at a loss this year
  • No salaries or wages paid to partners (no W2's)

On the last question before e-filing, there is a question that asks about informational returns, not entirely sure what this means? I plan on generating and distributing K-1's to all 3 partners (including myself).

 

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1 Best answer

Accepted Solutions
Critter-3
Level 15

Do I select yes or no to "informational returns filed under the return employer ID number"?

Partners are NEVER issued W-2 or 1099 forms so unless you have employees or sub contractors  the # of W-2 forms is zero and then you did not file payroll tax forms.  You should be issuing K-1 forms so your screen shot is correct as is.  

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3 Replies
Critter-3
Level 15

Do I select yes or no to "informational returns filed under the return employer ID number"?

Partners are NEVER issued W-2 or 1099 forms so unless you have employees or sub contractors  the # of W-2 forms is zero and then you did not file payroll tax forms.  You should be issuing K-1 forms so your screen shot is correct as is.  

View solution in original post

smsantella
Level 2

Do I select yes or no to "informational returns filed under the return employer ID number"?

Awesome, thanks! In what situation would I select NO to that question? I am bit confused with the wording.

Would the answer be NO if I didn't provide any K-1's as well?

Critter-3
Level 15

Do I select yes or no to "informational returns filed under the return employer ID number"?

That exact set of questions are used for all non personal returns and on occasion the form 1041 will not produce K-1 forms  but a 1065 will always produce a K-1 for each partner. 

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