Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 3, 2019 11:49:00 AM

Is my LLC required to generate K1s when the company was inactive for 2016?

0 1 445
1 Replies
Level 4
Jun 3, 2019 11:49:01 AM

It depends on how you elected to be taxed.  If your LLC is taxed as a partnership then you only have to file if you have income or expenses to report.  If you had absolutely no activity you would not have to file.  If your LLC is taxed as a corporation then you are required to file regardless of activity.