DianeW777
Expert Alumni

After you file

Even though there is not going to be a tax difference you should file your Form 1065 for 2020. There is nothing to do for the 1120-S business if that return was filed correctly and K1s included on your tax return as they should.

 

As far as the LLC here is the IRS guidance and what is required.  Complete the 1065 for 2020, then amend your own individual return for 2020 to stay in compliance simply because the LLC indicates incorporation.

You will need to use the TurboTax Business version for the Partnership Form 1065 and associated Schedule K-1s.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post