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What small business tax form should i use if i started my online retail shop 04/2010?

Question: What small business tax form should i use if i started my online retail shop 04/2010?

(Posted by: on 2011-01-11 15:38:22)

Its jan 11th, 2011. I’m ready to file my taxes for the first time business owner (2 person partnership). What is the correct form? I thought it was IRS Form 1065, but it says 2009, hmmm


Answers:

Posted by: acmeraven on 2011-01-11, 16:07:31

If you haven’t registered your partnership and obtained a federal EIN you might want to have a prayer meeting with your alledged partner and consider each of you being a sole proprieter filing a Sch C and SE with your 1040. Split the income and expenses and each do your own. To do otherwise may prove slightly? difficult.

  

Posted by: tro on 2011-01-11, 15:41:01

Yes, a partnership is a 1065 but you need an EIN for that and if you haven’t already got it, it is a little late of course that doesn’t mean you can’t file it that way but this should have been considered when you organized the business–frankly I would work out another arrangement with your partner

  

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