New LLC asking for Tax help

[anthonyj...@yahoo.com]

I need to file form 1065 - Do i just send it in with my regular 1040 -
or is there something i need to attach to my 1040 to show this income?

[webmasterflo...@gmail.com]

Anthony,

Please check with the IRS or your tax advisor, but my understanding is
that form 1065 is filed separate from from 1040. The income, which
would come from form 1065 Schedule K-1, would be reported on 1040
Schedule E, Supplemental Income and Loss.

Here is a link to the instructions for form 1065.

http://www.irs.gov/pub/irs-pdf/i1065.pdf

I am definitely not a tax expert, so check with your local IRS
Taxpayer Assistance Center (link below) or call them at 1-800-829-1040
(individual tax questions) or 1-800-829-4933 (business tax questions).
Or, check with your tax accountant.

http://www.irs.gov/localcontacts/article/0,,id=98268,00.html

Barbara Miracle
Editor
FloridaSmallBusiness.com

[anthonyj...@yahoo.com]

Thank you.

I have just read the instructions and apparently new for 2007 if the
business is a husband/wife joint venture (as mine is) you can elect to
have it taxed as regular self employment income. See page 2 of the
instructions. This looks a much easier way.