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Business & farm
Yes you will file a business (Partnership tax return). Partnerships headquartered in the United States must file Form 1065 each year, including limited partnerships. Partnerships generally don’t pay taxes and use Form 1065 to prepare Schedule K-1s to pass-through income and losses to partners - which will be reported on your individual tax return.
Further details are in the link below:
https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-form-1065/L5UpOREHb##
Have an amazing day. Evelyn M (CPA 20+ years)
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I would love a thumbs up 🙂 + Mark the post that answers your question by clicking on "Mark as Best Answer"
May 22, 2024
9:57 AM
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