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Topic History of: LLC tax return
Max. showing the last posts - (Last post first)
Author Message
steve Since you are a cash basis taxpayer, you can only deduct expenses in the year incurred. So, i would file a tax return to report the losses.
chez Thanks. Whats the penalty if I dont file for 2007? Can I just add the 2007 expenses to 2008 when I have income?
steve Multi member LLCs are required to file form 1065 annually, even if there was no income. If you incurred expenses last year you should definately file form 1065 to make use of the expenses incurred and add to your membership basis.

Consult with your tax advisor for more details.
chez i created an investment company last year with my father. The company made no money. Do I have to file a tax return for the LLC? there was no income
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