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My business started as a partnership, but is turning to sole proprietorship and will file form 8832 to change status. Should I still file form 1065?

I started my business as an LLC Partnership in MN, but my partner bailed on me before we even really got started (but enough to fill out forms). So the partner didn't contribute to the business at all in 2016 (or ever) and I'll be submitting form 8832 to change the classification. My questions is, do I need to fill out form 1065 for a partnership even though I'm requesting a change in status? And if so, how do I fill it out with that change in mind?
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3 Replies
Fern
New Member

My business started as a partnership, but is turning to sole proprietorship and will file form 8832 to change status. Should I still file form 1065?

You do not need to file the Form 1065. You are notifying the IRS of the change when you file Form 8832. You will report your income and expenses on your personal return through Schedule C.

My business started as a partnership, but is turning to sole proprietorship and will file form 8832 to change status. Should I still file form 1065?

Is there anyway to attach this form in Turbo Tax Home and Business? I feel like it should be attached with my tax return rather than sent in separately, or can I just send the form 8832 without my tax return?
Fern
New Member

My business started as a partnership, but is turning to sole proprietorship and will file form 8832 to change status. Should I still file form 1065?

The only way to attach the form is to mail your personal return in and not e-file.
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