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Business & farm
Because your LLC has more than one member, the "default" treatment by the IRS is a partnership that must file Form 1065 (U.S. Return of Partnership Income). That Form 1065 will generate the K-1 forms each of the partners enter into their personal (Form 1040) tax returns.
You can do a Form 1065 tax return with TurboTax Business.
The other option for a multi-member LLC is to elect to be treated as a corporation, and file a corporate tax return (Form 1120 or Form 1120S).
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‎July 10, 2020
9:20 AM