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I started a partnership LLC this year. Do i add this to my tax return?

 
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1 Reply
MinhT1
Expert Alumni

I started a partnership LLC this year. Do i add this to my tax return?

It depends.

 

If your LLC has no income and expenses in 2024, you are not required to report it.

 

If you live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin), your husband-wife LLC is a disregarded entity for tax purposes and you can file a Schedule C for your LLC on your personal joint tax return.

 

If you live in another state or your LLC is a multi-member LLC, then you have to prepare a LLC return (form 1065). 

 

You can use TurboTax online for small businesses to prepare form 1065 by clicking here

 

Or you can use TurboTax Business CD/Download on a Windows computer (not compatible with Mac).

 

You can purchase TurboTax Business CD/Download from this page.

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