Started a new LLC, three members, we purchased an industrial warehouse that needs a lot of work. There's no income only capital investments. It will be at least next year before any leasing income. My question is do i need to file a 1065 and k-1's showing zeros for this start up year? IRS Form 1065 instructions say under "Who Must File:..Must file UNLESS it neither receives income nor incurs any expenditures treated as deductions or credits for federal income tax purposes".
