I have a partnership with three folks--wife and daughter. I thought I only needed a 1065. We had no income; just losses. Am I required to provide W2's and 1099's?
I have a partnership with three folks--wife and daughter. I thought I only needed a 1065. We had no income; just losses. Am I required to provide W2's and 1099's?
Partners are not employees and should not be issued a Form W-2. The partnership must furnish copies of Schedule K-1 (Form 1065) to the partners by the date Form 1065 is required to be filed, including extensions.
I have a partnership with three folks--wife and daughter. I thought I only needed a 1065. We had no income; just losses. Am I required to provide W2's and 1099's?
Partners are not employees and should not be issued a Form W-2. The partnership must furnish copies of Schedule K-1 (Form 1065) to the partners by the date Form 1065 is required to be filed, including extensions.
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.