topic I wholly own 2 LLC's in NJ, 1 LLC had no activity and the other LLC I had one job where my expenses equaled my income, do I need to file a tax return for either? in Business & farm

I wholly own 2 LLC's in NJ, 1 LLC had no activity and the other LLC I had one job where my expenses equaled my income, do I need to file a tax return for either?

gary-l — Tue, 04 Jun 2019 00:30:02 GMT

For the LLC where you expenses equaled your income, yes y...

KiaraE — Tue, 04 Jun 2019 00:30:04 GMT

For the LLC where you expenses equaled your income, yes you must file a tax return.

For the LLC that had no activity, directly from the IRS Instructions for Form 1065 " 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."

https://www.irs.gov/pub/irs-pdf/i1065.pdf

I am the sole owner of the LLC. Do I need to file a 1065...

gary-l — Tue, 04 Jun 2019 00:30:05 GMT

I am the sole owner of the LLC. Do I need to file a 1065 return with TurboTax Business or do I use TurboTax Home and business?

Choose TurboTax Home & Business if you have a single-memb...

KiaraE — Tue, 04 Jun 2019 00:30:07 GMT

Choose TurboTax Home & Business if you have a single-member LLC that is treated as a sole proprietorship. If you own an interest in a multiple-member LLC (or a partnership, S corporation or C corporation), choose TurboTax Business.