Do you final a "Final Return" for a multi-member LLC that transitions to single-member during the tax year?
My business partner left our business during the tax year and our multi-member LLC which was taxes as a partnership became a single-member LLC with the same EIN, etc. Is the form 1065 I file for partnership considered a "Final Return"?
Thanks!
Kelly
01409
1 Best answer
Critter-3
Level 15
Feb 11, 2024 7:46:59 PM
YES ... the partnership ended so you file a final form 1065. And you need to either get a new EIN for the new entity if you will continue to be an LLC ... check with the feds and state for the steps you must take.
1 Replies
Critter-3
Level 15
Feb 11, 2024 7:46:59 PM
YES ... the partnership ended so you file a final form 1065. And you need to either get a new EIN for the new entity if you will continue to be an LLC ... check with the feds and state for the steps you must take.