MarilynG1
Expert Alumni

Business & farm

@prof531 An LLC files Form 1065: Partnership Return of Income. The annual Form 1065 must also include a Schedule K-1 for each member. Schedule K-1 reports the member’s share of LLC income, deduction, and tax credit items. These amounts are then included on the member’s personal tax return.

 

Click this link for more info on Reporting LLC Income.

 

You would then report the Final K-1 on your return with the income you received as a partial return of your investment.

 

This link gives more detailed info on LLC Tax Filing you may find helpful.

 

 

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"