I started a business with my friend beginning of last year. We did not create a legal partnership. We had income and expenses. Are we required to file 1065 or just split everything in half and report it on schedule C?
We created LLC by the end of 2017. Can we file 1065 for LLC even though we did not created LLC until end and revenues and expenses were paid through our personal account. We did not file any form with IRS to treat our LLC as corporation.
Should we file schedule C and report half on each partner?
Should we file 1065 even though Legal partnership forms were not filed with state. We would need t gen an EIN number to file 1065?
Can we report all income and expenses and just file 1065 even though it was not opened until November of 2017 and we operated business all year?
Thanks !!
