Paid all the taxes on schedule C but never filed form 1065 for 2 mem LLC. Should I start filing this form from this year or I should also file missed 1065s for other yrs?

[Critter-3]

If you and your spouse are the only members of the LLC, and you live in a community property state, you can use TurboTax Self-Employed. You would file your tax return as if the LLC didn't exist. (You treat it as a "disregarded entity.") You and your spouse would each file a Schedule C for your respective shares of the business income and expenses.

If you do not live in a community property state, the multi-member LLC has to be treated as a partnership. The LLC has to file a partnership tax return, Form 1065. TurboTax Self-Employed cannot do that. You need TurboTax Business (not Home & Business) to file the partnership return. But TurboTax Business cannot do your personal Form 1040 return. You still need one of the  personal editions for that.

If you do live in a community property state, you can choose to treat the LLC as a partnership instead of as a disregarded entity, if you wish.

The community property states are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin

 So if you did it wrong you must file all the missing 1065 forms AND amend the personal returns to add the K-1 forms the 1065 will issue and remove the incorrect Sch C forms. 

[Anonymous_]

I agree wholeheartedly with @Critter-3 and wanted to add that there are penalties for late filing a 1065.

See https://www.irs.gov/instructions/i1065#idm140672580619312

If, indeed, you have to file 1065s for prior years, you might want to consult with a tax professional.

[Anonymous]

who are the partners? spouse and you or is the other partner not your spouse. penalty for late filing 1065 with 2 parters about $5,000.  for a community property state where the LLC is only husband and wife no filing is required all other multi-member LLC's must file a 1065 each year

[Opus 17]

You need a tax professional pronto.

Once you make the decision to form an LLC, you are bound by all the laws tax laws that govern LLCs, which are different than sole proprietorships or unincorporated businesses. The penalty for not filing form 1065 is $195 per month per member.

Then, the LLC income is passed through to you not on the schedule C but on a K-1 form.  For every year that you did not file correctly, you must file the form 1065 and you must file an amended personal tax return to change how you report the business income and profits from a schedule C to a K-1.  If this has been going on longer than three years, you may find it impossible to get refunds of any extra tax you might’ve paid by filing incorrectly, and you will be looking at substantial financial penalties for the missing 1065s, unless you appeal to the IRS for forgiveness of the penalty. You need professional help for all of this.