Re: I have a partnership with 4 other people. The company/LLC didn't make or loss any money this past year. Should I even show it on my taxes? IF so where do i input it?

I have a partnership with 4 other people. The company/LLC didn't make or loss any money this past year. Should I even show it on my taxes? IF so where do i input it?

posted

Partnerships typically file Form 1065, which is available only in TurboTax Business (no other TurboTax version can be used to prepare Form 1065).

However, if the partnership neither received income nor incurred any expenditures treated as deductions or credits for federal income tax purposes, then the partnership is not required to file a return.

See https://www.irs.gov/instructions/i1065#idm139898010037856