I’m in a 50/50 LLC partnership, to start with I did not understand everything that goes along with this. When filing taxes the preparer stated that I automatically get 50% of the profit filed on my K1 since that’s how the business was created. I understand that, my business “partner” received all the income and I received ZERO. Now I am being told I HAVE to file the 50% of what he made on my schedule K form. Is this true? I am removing myself but I did not get any income and it’s confusing that I have to put income I never got on my taxes. I’m in Texas, please give me advice.
