You have an LLC. A single member LLC defaults to Schedule C on your personal return. If your LLC has more than one member, it defaults to a Partnership Return...Form 1065. If you want to be treated as an S Corporation, you should have filed form 2553...this form is called an "S Election" because you are asking the IRS to be treated as an S Corporation. You can accomplish all this with Turbo Tax Business. When you set up the ownership names and percentage of ownership, then input all your financial information, the program will create the necessary K1s. Today, March 15, is the deadline for filing Corporate and Partnership returns. Go online AS QUICKLY AS POSSIBLE and file form 7004, requesting a 6-month extension.
