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The word partner conjures up visions of a K1 in my head.
Your mom will do her business return by March 15. Your mom will need to use our business software. It handles Partnerships, S Corp, C Corp, multi-member LLC, trusts and estates.
Almost all of the business options generate a K1. Your mom could be a C corp but that isn't common with a small business.
Once the business return is finished, any flow through from her business would be mailed to the partners. Partners receive a K1 that goes on their personal return.
If you would like to reply and clarify, we are glad to help.
The word partner conjures up visions of a K1 in my head.
Your mom will do her business return by March 15. Your mom will need to use our business software. It handles Partnerships, S Corp, C Corp, multi-member LLC, trusts and estates.
Almost all of the business options generate a K1. Your mom could be a C corp but that isn't common with a small business.
Once the business return is finished, any flow through from her business would be mailed to the partners. Partners receive a K1 that goes on their personal return.
If you would like to reply and clarify, we are glad to help.
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