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Replies: 16
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Heisman Winner [82109]
TigerPulse: 100%
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Joined: 1998
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form 1065 tax advice
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Mar 14, 2025, 10:30 AM
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I wasn't going to file cuz I had no profit, but searching online it seems that people say file it anyway
other than first page of the 1065, what else do I need to file for a dual partnership? K? K-1?
Father G® TAXMAN
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TigerNet Immortal [170087]
TigerPulse: 100%
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Why bother?
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Mar 14, 2025, 10:40 AM
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There's no one left to look at that stuff anyway.
I'm kidding -
I'm guessing the AI replacements will be much more detail oriented than their human predecessors
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TigerNet Legend [147345]
TigerPulse: 100%
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Joined: 1998
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It's really simple.
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5
Mar 14, 2025, 10:42 AM
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Renounce your citizenship, and then you don't have to file or pay taxes.
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Orange Elite [5194]
TigerPulse: 100%
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Re: while at Clemson
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Mar 14, 2025, 11:29 AM
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I put myself through Clemson welding and fitting pipe and one of thr iron workers did just that, renounced his citizenship. Dude was a conspiracists, but opened my eyes to alternate takes on history and the possibilities of being an expat.
Anyway, no idea how he ended up, but I assume he left the country.
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TigerNet Legend [147345]
TigerPulse: 100%
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Joined: 1998
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I put myself through Clemson bartending.
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Mar 14, 2025, 12:30 PM
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So I renounced a lot of 8:00 am classes.
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Orange Immortal [66274]
TigerPulse: 100%
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Joined: 2018
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I was a disavowed renouncer, before I lapsed.***
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Mar 14, 2025, 12:33 PM
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Clemson Sports Icon [57830]
TigerPulse: 100%
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Joined: 1999
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Ultimate Tiger [33070]
TigerPulse: 100%
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Joined: 2014
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Re: while at Clemson
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Mar 14, 2025, 12:42 PM
[ in reply to Re: while at Clemson ] |
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I didn't know Clemson had welding and pipe fitting.
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Orange Elite [5194]
TigerPulse: 100%
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Re: while at Clemson
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Mar 14, 2025, 12:59 PM
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I didn't know Clemson had welding and pipe fitting.
They don't. I worked holidays and summers doing industrial shutdowns with Fluor Daniels , now just Flour.
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Ultimate Tiger [33070]
TigerPulse: 100%
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Posts: 16768
Joined: 2014
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Re: while at Clemson
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Mar 14, 2025, 1:02 PM
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I was the duct man during the summer and over Christmas break, and a plumber for half a summer.
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Orange Elite [5194]
TigerPulse: 100%
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Re: while at Clemson
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Mar 14, 2025, 1:23 PM
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Nice! I made enough money to pay rent, food and one Christmas bought my mom a brand new oven with glads flat top ( this was 98 so bug deal).
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Clemson Sports Icon [57830]
TigerPulse: 100%
59
Posts: 27221
Joined: 1999
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Hope that work wasn't on nuclear plants?********
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Mar 14, 2025, 12:57 PM
[ in reply to Re: while at Clemson ] |
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Orange Elite [5194]
TigerPulse: 100%
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Re: Hope that work wasn't on nuclear plants?********
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Mar 14, 2025, 1:01 PM
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Chemical mainly.
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TigerNet Eternal Icon [187981]
TigerPulse: 100%
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Joined: 2007
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The K-1's are required to allocate income/loss to the partners
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Mar 14, 2025, 4:57 PM
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how many you got? You say no profit, but was there income and expenses to show a loss? Or just zero activity?
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Heisman Winner [82109]
TigerPulse: 100%
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Posts: 26984
Joined: 1998
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Dual ownership
Mar 14, 2025, 6:55 PM
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Paid fees to create an LLC mostly and website, 2-300$
K-1 needs to be provided to IRS or just for me?
For the 1065, is the first page sufficient or do I need other sections (B?) ?
Thanks! Got to mail it tomorrow cuz heading to Vegas baby!
Father G®
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TigerNet Eternal Icon [187981]
TigerPulse: 100%
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Joined: 2007
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IRS needs complete 1065 as does SC
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Mar 15, 2025, 7:44 AM
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I honestly do not remember the rules for what needs to be completed in pages 1-6 but should be in the instructions, sorry.
No help, been too long, sorry.
There is an extension form if you want to wait to get better advice.
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Heisman Winner [82109]
TigerPulse: 100%
62
Posts: 26984
Joined: 1998
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Thanks G!
Mar 15, 2025, 7:58 AM
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I finally read all the instructions (wow) while the Tigers were struggling and realized K-1s get submitted with the 1065 and probably that's it
I'll get it done, thanks for your help and Go Tigers!
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