February 18, 2020
To TurboTax
I'm not sure that you are correct recommending to use Idaho Form 65 Pertnership Return of Income.
TurboTax Business creates Form 1065 "U. S. Return of Partnership Income", which prepares and files the Federal K-1 to be sent to LLC partners to include the taxable income in the partners' personal tax return (prepared on TurboTax deluxe).
There is no actual income tax payable when you file Form 1065 using TurboTax Business for LLCs..
The Form 65 for Idaho that you recommend is just like a tax return with income tax payable with each Form 65 filed.
Form ID K-1 "Partner’s, Shareholder’s or Beneficiary’s Share of Idaho Adjustments, Credits, etc." is the Idaho version of the Federal K-1 that TurboTax Business creates to send to partners. This is the form that the Idaho State Tax Commission Help Line says to use if the LLC is filing a federal return. (This also does not require tax payment since the income is passed thru to the partners to include in their personal return).
What I am looking for is the TurboTax version that creates the Form ID K-1 that is required to be filed with Idaho Tax Commission.(as information only). The Federal K-1 info and income is entered into the partners' personal tax return.
Does TurboTax have this software anywhere?
thank you,
Bob
