Thursday, August 11, 2011

Can I file my personal taxes seperate from my llc partnship taxes?

Yes...you have to actually. You'll have to file a 1065 for the partnership. You'll fill out schedule K to determine which partner made how much then once that's filed you'll claim your share of the profit on your 1040. This is not like a Sole Propriatorship where you do the whole business return as part of your personal return.

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