@Mike9241
hi - thx for your quick response. my comments below...
1. yes its definitely a notice from IRS and NOT the state . its notice # CP160
2. its definitely a small time H&W LLC so it sounds like its closely held. its a rental property in a resort. with short term rentals ( less than 7 days) and we provide services to the guests. Therefore , I was told by prior cpa, that we can treat it like a business (it operates at a net loss) and have that business loss (ie non passive loss) flow ot our personal 1040's
Line 26 what other taxes could be is a mystery
3. Well , i certainly didnt enter anything on line 26 when i prepared the 1065
if it is the IRS are you sure it's not taxes you owe on your 1040 for misreporting something on the LLC k-1's
4. the notice is coming to the LLC , not to us. but yes i have been reporting the k1 loss on my personal 1040
I don't think a transcript or copy is going to do you any good but here are the links
you might be better off calling the number on the notice.
5. wont the transcript show what IRS thinks is the right values for Line 26 or if they are charging me excise or payroll tax?
