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Business & farm
You should absolutely seek guidance from a tax professional for the first year of your LLC (i.e., first return).
However, you do not even need to file a 1065 for the LLC if the LLC neither received income nor incurred any expenditures treated as deductions or credits for federal income tax purposes for the 2025 tax year.
See https://www.irs.gov/instructions/i1065#en_US_2025_publink11392vd0e555
Also note that although the land would be listed on the balance sheet (Schedule L), you would not have to complete Schedule L if the LLC had less than $250,000 in income and assets worth less than $1 million.
a week ago
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