Question

Do I need to file a K1 for an LLC with no income and claiming no expenses for 2023?

Forum|Forum|2 years ago
February 3, 2024
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TurboTax Online

If you received Schedule K-1 for an LLC that has no income or expenses, you wouldn't include that K-1 on your personal tax return.

However, if you are responsible for filing a business tax return for an LLC, you do need to complete and file a return every year the LLC is in business even if it has no income or expenses for that year. You'll need to purchase TurboTax Business to prepare a business tax return.

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