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Business & farm
The tax return to use for a profit business would be a choice you would make in the first year you file a tax return for it.
If the organization is registered with your state as a corporation, typically you file a form 1120, or 1120-S (if you filed an S corporation status application for it.)
If the organization is registered with your state as an LLC, or it is not registered with your state, then typically you file a form 1065, and issue a K-1 schedule to all the members of the organization, reporting their share of the organization profit or loss.
You can use the following link to form 8832 to find out more about choosing a filing entity for your organization:
https://www.irs.gov/forms-pubs/about-form-8832
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March 31, 2020
5:48 PM