My wife and I (husband) live in Texas, a community property state, and own a multi-member LLC, where we are the only members. The LLC has community property. We filed Form 1065 for 2022 and before as a partnership and then included the K-1 information in our joint return.
We are shifting from a partnership to a Single-Member LLC effective 01/01/2023. We are going to file Form 8832 before 12/31/2023 not to get a late filing penalty.
Our concern is what to do with Form 1065 and our personal return. Our 2022 1065 form was already filed without checking the Box G(2) to designate it as being final.
Is it ok just to file a final blank 1065 for 2023 and start filing the business activities on a Schedule C with our personal return or do we need to do something else/extra?
