if you never used it there's nothing to report. if you do start to use it in a business, then the LLC must file a partnership return.
Great, thanks! Would the partnership return be filed under our joint tax return or would that be a separate return?
Please clarify - in what state is the LLC organized/registered?
Sorry to be blunt but if you don't know the answer to that question you need to RUN to a local tax professional to get educated on what you have done ... if you did get the EIN from the IRS as a multimember LLC then the issuance notice told you to file a form 1065 as a partnership which was due 3/15/21 (even if you have no income to report) so not only do you need to file a form 1065 but you also are very late in doing so and the penalties are adding up fast... $205 per member per month. Seek local professional assistance ASAP.
It depends how you chose to have it treated. Since you live in a community property state, you are allowed to have an LLC be considered a Qualified Joint Venture. If you defaulted as a Schedule C, you don't have to do anything.
A qualified joint venture is a joint venture that conducts a trade or business where (1) the only members of the joint venture are a married couple who file a joint return, (2) both spouses materially participate in the trade or business, and (3) both spouses elect not to be treated as a partnership.
A qualified joint venture, for purposes of this provision, includes only businesses that are owned and operated by spouses as co-owners, and not in the name of a state law entity (including a limited partnership or limited liability company)
Spouses as Joint Venture LLC Owners
However, if the joint venture is incorporated as a legal entity -- such as an LLC -- under state law, the IRS qualification is not allowed and the venture is treated as a partnership unless the married joint venture owners live in a community property state.
Thanks @ColeenD3 . How do I determine if we opted for the qualified joint venture? I checked our certificate of filing and didn’t see anything about this.
This has nothing to do with how you filed your LLC. The facts that 1) you are husband and wife, 2) that you live in a community property state, and 3) that you did not elect to be taxed as a Partnership all qualify you.
Start by looking at the EIC confirmation receipt from the IRS ... what do they expect you to file ? Do they tell you to file a form 1065 by a certain date ... look in the middle of the first page. If they expect a 1065 then you need to file a 1065.
Did you save a copy of the SS-4 form when you applied for the EIN ? Which boxes did you complete ? Which entity did you apply for ?