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I have a solo llc company and last year my business partner and I bought a property under my llc. What form should I use to inform IRS and his name?

 
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5 Replies

I have a solo llc company and last year my business partner and I bought a property under my llc. What form should I use to inform IRS and his name?

So you changed from a solo LLC to a multi-member LLC (Partnership)?

I have a solo llc company and last year my business partner and I bought a property under my llc. What form should I use to inform IRS and his name?

yes. but only one property is under llc and has two members.

I have a solo llc company and last year my business partner and I bought a property under my llc. What form should I use to inform IRS and his name?

Exactly who owns the property?  The LLC and John Doe?

I have a solo llc company and last year my business partner and I bought a property under my llc. What form should I use to inform IRS and his name?

My business partner and I bought the property under my llc. Legally the llc owns the property and I am the only owner of the llc. In fact, my business partner paid 50% of the purchasing price. As of today, he doesn't have any ownership on the llc. I want to add him to the llc for the tax purposes. For the last 6 months I paid him 50% of all collected rents.
Anonymous
Not applicable

I have a solo llc company and last year my business partner and I bought a property under my llc. What form should I use to inform IRS and his name?

you have a major problem. you have formed a partnership which requires filing form 1065 which was due 3/15/19.    seek professional help because the penalties for late filing are over $100/month per partner (actually member) 

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