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Investors & landlords
a partnership return is required. whether it's an LLC or not is a personal decision. since it was due 3/15/2021, it is now late. your interests may be best served by using a pro to prepare the first year's return. while some non-husband/wife "partnerships" split reporting directly on their returns, this is not proper. a husband/wife who are the only partners can split reporting the income on their personal return as long as the partnership is not a state law entity, ie an LLC.
May 4, 2021
12:17 AM