Vanessa A
Expert Alumni

Business & farm

Yes.  If you fill out a 1065, it should generate a K-1.  You will enter the K-1 on your personal return to report the income.  You do not pay taxes when you file the form 1065 as it is a flow through entity.  So the taxes are paid when you enter the K-1 on your personal return. 

 

 

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