Form 1065 Date Begin error

Forum|Forum|6 years ago
March 6, 2020
3 replies
2 views

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?

Best answer by Anonymous_

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.

Anonymous_Answer

Level 15

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.

tpkr58

Level 4

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

Line "G", Which box is checked?

flipzAuthor

Level 2

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

tpkr58

Level 4

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

DavidS127

Level 13

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.

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