Business & farm


@CCCBuilder wrote:

This will be our first year filing to get the 1065 Schedule-K? I


Your CPA is substantially correct in the sense that properly preparing a Form 1065 and associated K-1s for a multi-member LLC can be challenging, particularly in its initial tax year.

 

Intuit produces TurboTax Business (link below) that is capable of preparing a Form 1065 for a multi-member LLC; it must be installed and run in a Windows environment (there is no Mac nor Online version).

 

However, you might want to have your 1065 professionally prepared the first year in operation to ensure that it is done correctly. Subsequently, you can use that first year return as a template of sorts if you feel comfortable preparing the return yourself.

 

https://turbotax.intuit.com/small-business-taxes/