Form 1065, page 2, Schedule B, item 2b asks about individuals owning an interest of 50% or more in the profit, loss, or capital of the partnership? I answered yes as there are 2 partners in the llc partnership, each with 50% interest, correct? It then says to attach Sched B-1.
But, Sched B-1 instructions say this: "Schedule B-1 (Form 1065) must be filed by all partnerships that answer “Yes” to question 3a or question 3b on Schedule B of Form 1065. Attach Schedule B-1 to Form 1065."
3a or 3b??? Nothing on Sched B-1 instructions about having to fill it out because you answered yes to question 2b????
Are those outdated instructions since the form was updated from 2017 to 2018? The form on the irs website shows 9-2017 revision. We aren't using Turbo Tax for business, too expensive for this small llc. Manually filling in forms in pdf.
Here's the link: https://www.irs.gov/pub/irs-prior/f1065sb1--2017.pdf
