Form 1065 Schedule B - What type of entity is filing this return?

[narendran-kandas]

We have a rental property in the LLC. My wife and I are the only members of LLC. In the form 1065, schedule B- First question is what type of entity is filing this return? I have been selecting the choice "Domestic limited liability company" since the beginning of filing the tax  return (2020) for this LLC. There is another choice "Domestic limited liability partnership" which made me to question my earlier selection?

What should be correct choice that I should be selected for this question? 

[PatriciaV · Accepted solution]

If you formed a Limited Liability Company (LLC), then it is not a Limited Liability Partnership (LLP). This question is explained in the main step-by-step interview under Business Info >> About Your Business, which is the recommended path for completing your business return.

[narendran-kandas]

I went through the "About your business" section. The explanation for limited liability company is - A limited liability company (LLC) is formed under state laws. I reviewed the state certificate for this business. It is mentioned as limited liability company. Thanks @PatriciaV for guiding me.