LLC 1065 Form W-2

[fidecfg1220]

I have a llc with my wife and I also have a W-2 and 1099, how to do my tax?

[DavidD66]

For the LLC you have with your wife, you will need to file a Form 1065 - Partnership Return.  To do so, you will need TurboTax Business.  For information on TurboTax Business, and to purchase/download it, click on https://turbotax.intuit.com/small-business-taxes/ The Form 1065 will generate Forms k-1 for both you and your wife, which you will need to enter for your personal tax returns.

For your personal tax returns, you will need TurboTax Premier.  You can use the Online version, or the Desktop version.

[REMC112]

I have a similar situation. First time doing taxes for our LLC. No employees. Just my wife and I as partners. I completed the Home and Business turbo tax but then I found a letter in my files from IRS stating I may need to fill out a form 1065. Do I need this? If so,  can this be done electronically separate from the actual tax return? I really don't want to re-due our tax returns on Turbo Tax business and Turbo tax Premier. I

[Critter]

If the IRS says you are to file a form 1065 then you must file one ... they are expecting it. 

[AnnetteB6]

If your LLC was formed as a partnership, then the IRS will expect a Form 1065 partnership return be filed under the Federal ID that was assigned to your LLC.  You are not required to file the partnership return if there was no income received and no expenses to be claimed. 

Otherwise, you can use TurboTax Business to create and file the partnership return.  This can be filed electronically.  This will also generate K-1s for each partner.  Then the K-1 will be reported on each partner's personal return for their share of income and expenses.

An LLC formed as a partnership, even with a husband and wife, cannot be reported on your personal return through Schedule C.   If you included information about your LLC on your personal return without entering that information through a K-1, you will need to amend that return to correct it after you have created the K-1s for the partnership.

Here is a link to learn more about TurboTax Business:  TurboTax Business

@REMC112