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Business & farm
The partnership didn't reimburse us, for when filling out the 1065 and K-1 vehicle expenses do come up, but only if the company owns the vehicle. Therefore I was told to file that as an expense when filing our taxes given this multi-member LLC is a pass-thru. The agreement doesn't specify one way or another.
It's a company my wife and I own. We are the only two employees; this is our first time filing the 1065 and now we have a K-1.
March 2, 2024
1:05 PM