Business & farm

If you were trying to keep it simple, you shouldn't have formed the LLC.  ðŸ˜€

 

You need to file a separate Partnership return, and then the K-1s from the Partnership returns will be entered on your personal tax returns.

 

I recommend going to a tax professional for at least the first year for the Partnership return.

 

If you did not file an extension for the Partnership return, it is already 4 months late (soon to be 5 months late), with fairly large penalties.  This is another reason to go to the tax professional to try to abate those penalties.

 

Texas also may have a separate return/tax/fee for LLCs.

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