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LLC Business Listing

If I am partner in a PLLC do I list it as another business in my taxes or just enter the K-1 information in income?

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3 Replies

LLC Business Listing

You only enter the Schedule K-1 received from the partnership on your personal tax return.

LLC Business Listing

As a member of a multi-member LLC, the LLC should most likely be filing a Form 1065 and you should be receiving a K-1 (1065) which you will enter into your personal income tax return.

LLC Business Listing

The partnership return form 1065 is due 3/15  NOT 4/15 like the personal returns.   If it goes on extension to 9/15 then the personal return should also go on extension until 10/15 so you can wait for the K-1 form to put on your personal return.   Talk to whoever is preparing the partnership return to see when they will get it filed and when you can expect the K-1 form. 

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