Vanessa A
Expert Alumni

Deductions & credits

Yes, if you have an LLC partnership set up, this is considered a flow through entity.  You will need to file a 1065 and then send each partner a Schedule- K-1 to report their share of the income and expenses. 

 

All of the income and expenses would be reported on the 1065 and will flow through to your returns via the K-1.

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