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Business & farm
I'm aware of the IRS requirements to be considered a nonprofit. However, their considerations for LLC Nonprofits are much more tight and the qualifications are difficult to meet. This is why I am converting to a Corporation.
To answer my question, I'm assuming you're pointing to the idea that I will have to file the business on my personal return as a for profit LLC for this tax year, and then report as the desired nonprofit status next year after the conversion is done.
‎January 17, 2025
3:17 AM