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Business & farm
Just a clarification. An LLC is a state created entity. The federal government completely ignores the fact you have an LLC. As far as feds are concerned, a business is a sole proprietorship, a partnership, an S-corporation, or a standard C-corporation. The fact the they expect a 1065 means it is considered, by the feds, as a partnership. Many states have their own reporting requirements for an LLC. Complete the 1065, which will generate a K! for each partner. Then each partner transfer K1 information onto their federal ans state income tax returns.
‎June 1, 2019
12:59 PM