Do I need to file a K-1 for a partnership LLC that only made 1400.00 and used that on business expenses?

[MichaelL1]

Are you talking about doing the partnership return or your individual return?

[sznmoriarty]

Both actually. We've been told we need to file a 1065 for the business and a k-1 personally even though we had no profit.

[MichaelL1 · Accepted solution]

OK what you need to do is to the file the 1065 which will generate K-1's that are given to each partner.

The 1065 is due 3-15-2019. and to do this in TurboTax you need TurboTax Business software.  https://turbotax.intuit.com/small-business-taxes/

Yes, it needs to be filed because it conducted business during the tax year.

Then the K-1 generated, the information is reported on your return.