shf1957
Level 7
02-28-2023
12:49 AM
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It all depends on how that party registered the LLC TAX MATTERS to be handled. If their original application chose as a Corporation, then you would first complete the 1065 and it will generate a K1 for you to use when filing their personal income tax. You would then go onto a 1040 application and enter the K1.. it will generate the forms needed to complete their taxes.. such as a schedule C/SE etc.. BUT if they chose in the beginning to file as a Sole Prop on a Sch C, you would NOT do a 1065 at all. Hope this helps!