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Business & farm
You didn't mention whether or not you were formed as an LLC. If you were not formed as an LLC and operated strictly as a partnership, you would now be considered a sole proprietor. If you were formed as an LLC and did not file Form 8832 to be classified as a corporation, you would be a single member LLC which the IRS classifies as a disregarded entity.
In either case, you will report your business income on Schedule C which is available in TurboTax Self Employed. You will NOT need to file a K-1 or 1065.
If you did file Form 8832 to be classified as a corporation, you would then need to file the appropriate corporate forms.
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‎June 1, 2019
9:26 AM
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