Hello!
I started a small business last year with my business partner. We formed an LLC.
As I understand, an LLC produces two forms: 1065 + K-1. [EDITED to reflect that LLCs *do* need to file but they don't pay tax, rather the members do]
This is my first time doing anything like this, and I'm looking for help online to populate these two forms. We didn't make any profit last year and both paid out several thousand in expenses (tradeshows, ads, etc.)
Question: I need help producing these 2 forms but hoping to avoid the cost of professional tax help. I see "TurboTax Business" for $170 but I'm wondering if this is overkill - it says "free federal e-file included", but LLCs do *not* file. So I'm wondering if I can get away with something less comprehensive? Any advice is greatly appreciated!
[Once I produce these forms, I'm going to take them to my personal accountant and include them in my personal taxes. But I am hoping to avoid going to him for my business taxes since they charge quite a bit for business tax prep.]
Thank you!!
Jennifer
