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For a 1065 return, if the only activity is construction in process and no income, is a return required.?
New construction LLC in 2018. There are minimal expenses on the P&L. All other expenses to date have been capitalized. The Completed Contract Method is being used. 1065 instructions say a return is not required if there is no income. Does this still hold true if there were expenses in 2018 but most have been capitalized. Are there any negative effects of not filing?
