Should a Form 1065 subsidiary attach a Form 1122

[karen6121]

Hi,

I filed Form 1065 (LLC partnership) for a holding company with 1 subsidiary, using TurboTax Business. Should I have filed Form 1122 to be attached to Form 1065 stating that the subsidiary is included in the holding company return?

If so then I need to amend that return to include Form 1122, correct?

Help please!

[AlanT222 · Accepted solution]

You are correct. 

Complete and submit an original, signed Form 1122 to the common parent corporation of the consolidated group for the first tax year the subsidiary consents to be included in the group’s consolidated income tax return. 

The common parent corporation of a consolidated group must attach a separate Form 1122 to the group’s consolidated income tax return for each subsidiary corporation for the first tax year each subsidiary consents to be included in the consolidated return.