Is 1065 required if opened multi-member LLC and Closed LLC in between 12 months?

I have been seeing a couple of places that if an LLC is opened and closed with 12 months we wouldn't need to file a 1065. There are some expenses but only profits are interest which the bank gave a 1099-INT for. Any credence to this claim? I have tried calling the IRS but they don't answer these types of questions apparently and I haven't found anything on the actual IRS website, only just about closing down a partnership. Thanks in advance.

759

Expert Alumni

Feb 27, 2024 2:01:43 PM

Yes, you have to file a tax return (form 1065) for your multi-member LLC if the LLC had income or expenses during the year, even if you closed the business.

Moreover, there are steps to take when closing your LLC.

Please read this IRS document for more information.

Level 2

Feb 27, 2024 2:04:39 PM

Thank you for the reply. I was specifically referring to this site which may not be the most reliable. I will look over the document.

LLC Dissolution and What You Need to Know | MyCompanyWorks

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Is 1065 required if opened multi-member LLC and Closed LLC in between 12 months?