topic Re: Form 1065 Date Begin error in Get your taxes done using TurboTax

Form 1065 Date Begin error

flipz — Fri, 06 Mar 2020 15:19:07 GMT

My first year of filing Form 1065 on TurboTax I made an error in the field of the "date you started doing business". I entered that the date my certificate of organization was approved. For example the year 2017. However, I didn't actually start doing business until February 2018.

I did NOT file a 1065 in 2017.

Are either of these 2 an issue?

Re: Form 1065 Date Begin error

Anonymous_ — Fri, 06 Mar 2020 15:35:58 GMT

The IRS typically starts looking for a return after the LLC applies for an EIN.

You can easily change the date in that field, otherwise.

Re: Form 1065 Date Begin error

PerryR — Fri, 06 Mar 2020 15:45:51 GMT

On the 2018 Form 1065
U.S. Return of Partnership Income
Department of the Treasury
Internal Revenue Service

Line "G", Which box is checked?

Re: Form 1065 Date Begin error

DavidS127 — Fri, 06 Mar 2020 15:47:20 GMT

It depends. If you didn't have income or expenditures you can deduct or get a credit for in 2017, you do not have to file Form 1065 for 2017.

The IRS Instructions for Form 1065 at this link have these instruction for Who Must File":

".......every domestic partnership must file Form 1065, unless it neither receives income nor incurs any expenditures treated as deductions or credits for federal income tax purposes."

For the date the business started, the IRS instructions Form IRS Form SS-4 at this link suggest that you should use the date you created the business.

Re: Form 1065 Date Begin error

PerryR — Fri, 06 Mar 2020 17:00:57 GMT

DavidS nailed it. No need to file if no business activity in TY 2017.

Re: Form 1065 Date Begin error

flipz — Sat, 07 Mar 2020 17:05:03 GMT

The first Year I filed I selected initial. This year the boxes are all blank.

Re: Form 1065 Date Begin error

PerryR — Mon, 09 Mar 2020 21:28:40 GMT

You should be in good shape. No need to file 2017...what will the IRS do with a return containing nothing but zeroes anyway?