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@Kim wrote:

No, client is requesting all elections and Froms k-2 and K-3 be completed since they have assets.

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Interesting.  I'm probably just being dense, but what parts of K-2/K-3 apply with no income or deductions?  And what elections would be made?

As I mentioned before, if you don't need to file, the extension doesn't change that.  So if the taxpayer doesn't want you to file, then don't.  But you may consider charging another fee if the client asks you about any IRS notices that MIGHT come for not filing.

Out of curiosity, is this going to be a business, or is it just one of those things that people just put some joint ownership of property and threw it into an LLC?