Hello,
I am part of a 2 member partnership LLC with a registered EIN. Our partnership LLC is a podcast and we released episodes and trailers weekly from February 2024 through December 31, 2024. The expenses we incurred were minimal at around $1300.00 with purchase of assets around $900. We received zero income throughout all of 2024. We are continuing the business in 2025 by releasing new episodes and trailers weekly. At this time, we still have no revenue stream for our podcast.
Do we need to complete the IRS 1065 form and prepare K1 forms for each member (again, there are only 2 of us?) We filed our annual report to the state of Colorado at the end of December 2024 and paid the nominal fee to CO SOS - is there anything else we need to submit to the state of Colorado during the 2024?
Thank you, Ontie
