My wife and I created an LLC in 2018 but have not opened for business yet. We did not plan on filing a tax return for LLC for 2018 (1065 partnership return).
But we just received a 1099-INT from our bank because when we opened a business checking account in 2018 we received a $200 bonus for signing up.
How should we account for the $200? File a 1065 with all zeros and include the $200 divided on K-1 forms?
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If the Partnership had income ($200 of interest), it is required to file a tax return (Form 1065).
That income will then flow to your personal tax returns via the K-1s.
If the Partnership had income ($200 of interest), it is required to file a tax return (Form 1065).
That income will then flow to your personal tax returns via the K-1s.
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