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staugust1
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- Posted Re: My LLC started as a partnership but is turning to sole prop and will file form 8308 to report the sale. Should I file a ‘final’ form 1065? on Business & farm. June 24, 2020 4:41 PM
- Cheered Re: My LLC started as a partnership but is turning to sole prop and will file form 8308 to report the sale. Should I file a ‘final’ form 1065? for Carl. June 24, 2020 4:41 PM
- Posted My LLC started as a partnership but is turning to sole prop and will file form 8308 to report the sale. Should I file a ‘final’ form 1065? on Business & farm. June 24, 2020 4:10 PM
June 24, 2020
4:41 PM
Thank you for the detailed answer. It all make sense.
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June 24, 2020
4:10 PM
I started my business as an LLC Partnership in MI and have been filing form 1065. My partner is buying me out as of 12/31/2019 midnight. The payment end of the sale will happen in 2020 but he has full ownership control for all of 2020. I already submitted the 1065 for 2019 but didn’t indicate that it was a final filing. Should I amend my 2019 1065 form to indicate that it is the final 1065 for the partnership? If I shouldn’t file an amended return, do I need to file a ‘final’ 1065 for 1/1/2020 and he would file another return for the remaining 364 days of the year?
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