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What type of business tax form do my sister and i need to file 75 days after the close of the fiscal year?

Question: What type of business tax form do my sister and i need to file 75 days after the close of the fiscal year?

(Posted by: angelbaby101466 on 2008-05-27 23:09:43)

We divide all profits and share all losses using a fixed ratio.


Answers:

Posted by: RUSerious on 2008-05-28, 01:20:20

I believe that if you are a legitimate partnership, you will need to file a form 1065 and provide each partner with a schedule K which each partner will then use to file their own form 1040 and whatever other forms their return requires.

  

Posted by: v b on 2008-05-27, 23:27:51

If you didn’t incorporate or elect to be an s-corp, then you are a partnership….

  

Posted by: Lady Mala on 2008-05-28, 00:06:05

Partnership, no doubt, unless one is a sole proprietor and the other just a blind partner (only contributes money). You’re better off as a partnership, even better as some type of corporation or LLC. It is filed with the 1040 form- can’t remember if it’s C or D. When does your fiscal year end? 75 days sounds like a long time. If you have a business you would be wise to consult with a CPA.

  

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