I got a K-1 1065 where my LLC is the Partner in Part II. Used K-1 1065 to create business return and K-1 1120S. Do I add the K-1 1065 to 1040 if info is in my K-1 1120S?

ajhjohnson8 — Tue, 04 Jun 2019 20:35:11 GMT

I know I have to add the K-1 1120S to my personal return, but adding the K-1 1065 to my personal return seems like double counting, especially since it shows self employment earnings but not self employment expense. Those expenses are included in the K-1 1120S. To clarify, my LLC is listed as a partner in the Part 2, Info about Partner section, along with my Bus tax ID, not my SSN.

You would not add the K-1 1065 to your personal tax retur...

Fern — Tue, 04 Jun 2019 20:35:12 GMT

You would not add the K-1 1065 to your personal tax return. This K-1 is included in the 1120 S that you prepared for your LLC.

Your LLC issued a K-1 as part of it's 1120 S filing. This is the K-1 that is included in your personal return.

topic I got a K-1 1065 where my LLC is the Partner in Part II. Used K-1 1065 to create business return and K-1 1120S. Do I add the K-1 1065 to 1040 if info is in my K-1 1120S? in Business & farm

I got a K-1 1065 where my LLC is the Partner in Part II. Used K-1 1065 to create business return and K-1 1120S. Do I add the K-1 1065 to 1040 if info is in my K-1 1120S?

You would not add the K-1 1065 to your personal tax retur...