Business & farm

Thanks you for your response, I appreciate it. I have additional information and questions.

 

1-what do you mean by maintaining your basis? To be honest i left that company long time ago but on the paper it was august 2019. As i said I didn’t take any penny.

 

2- it was 2 members , I transferred my share another person so they continued with 2 members llc , just members exchanged.

3-i need to do my taxes right now, i believe they will do it later, i just dont wanna pay penalty cuz of filing without k1 . If they show my income 0 , still do i need to file k1?