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Get your taxes done using TurboTax
Who is included on the LLC registration? Are you both on the Operating Agreement? Did you use a lawyer to incorporate?
A multi-member LLC is required by the IRS to file a tax return every year until it dissolves. Per the IRS, "A domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and elects to be treated as a corporation."
The LLC operating agreement may state that you receive 100% of the profit and loss. But other aspects of a partnership are set by the IRS.
The only way to prepare Schedule K-1 is from Form 1065, the partnership tax return.
You may wish to consult with a local tax expert on these questions, to be sure you are in compliance with all laws and regulations.
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