This concerns a multimember LLC in New York State that is treated as a partnership. The LLC was formed in 2016 but is not yet open for business. It will not begin business until some future year. It has incurred start-up expenses, organizational expenses, and capital expenditures to buy tangible assets. According to IRS Pub. 535, all these expenses may be deducted, amortized, or depreciated (as appropriate) starting in the first year when business begins. Pub. 535 does not mention filing such expenses before the first year when business begins. Therefore, am I right that the LLC does not need to file Form 1065 or any other tax form until it begins business? And when it does begin business, the LLC may then deduct or begin amortizing or depreciating such expenses for all prior years?
