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Get your taxes done using TurboTax
@diablovox wrote:1. If we never filed a Form 2553, has our LLC been taxed as a normal LLC Partnership so far?
Yes. A multi-member LLC without an election to be treated as a corporation for federal income tax purposes is treated as a partnership for federal income tax purposes by default.
Note that, as a married couple, you have the option to each report on a separate Schedule C if you hold your interests in the LLC as community property in a community property state, per Rev. Proc. 2002-69.
See https://www.thetaxadviser.com/issues/2019/apr/llc-spouses-partnership-joint-venture.html
‎January 20, 2023
10:09 AM
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