Should we file IRS F1065 for 2019 if no income received?
Eddy00
Member Posts: 1
Hi everyone, grateful if you can advise on this based on your experience: we registered a 2 partners LLC in DE in Oct 2019 which is treated as a Partnership by the IRS for Tax purposes. the LLC didn't receive any income in 2019 apart from few start-up costs that we have incurred (about USD400). I am quoting this from the IRS website: "Except as provided below, 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." Does it mean that we are exempted from filing form 1065 in 2019? Thanks a billion!
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Hey @Eddy00 It sounds as though your assumption is correct, however, I am not an accountant, nor would I know your business well enough to fully confirm that. I'd recommend reaching out to an accounting professional to confirm. We do have a section in the Community Forum where you can find one if you do not have one already!