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Does Form 1065 with Schedules K-1 have to be processed by the IRS before I can file my personal tax return?

Forum|Forum|6 years ago
June 6, 2019
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I am paper filing my LLC's Form 1065 tomorrow. I have to give the other partner their K-1 and they want to e-file their federal taxes this week (I am filing an extension for my personal taxes and we also filed an extension on paper for the LLC in March).

Do they have to wait until the IRS processes the 1065 before they file their personal return and report their K-1?

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Best answer by MinhT1

No, partners in a LLC do not need to wait for the tax return of the LLC (form 1065) to be processed by the IRS to file their personal tax returns.

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MinhT1Answer

No, partners in a LLC do not need to wait for the tax return of the LLC (form 1065) to be processed by the IRS to file their personal tax returns.

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singlewideaccounting

The way the question was asked leads to two answers: No, the 1065 doesn't have to be accepted by the IRS to file personal taxes. However, the question asked if the return needs to be completed. That would be yes because you need the K-1 information to file your personal 1040 return.

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mglauner

Yes, you do need your K-1's to file your personal tax return. You could apply for an extension, or file without them now and Amend later.

Here's more info on Filing Without K-1.

@singlewideaccounting