The 1065 and K-1 work together in that the 1065 tells the IRS as a whole what the partnership or LLC did over the year and the K-1 is what the partner uses to report his/her share on their personal tax return. …
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The 1065 and K-1 work together in that the 1065 tells the IRS as a whole what the partnership or LLC did over the year and the K-1 is what the partner uses to report his/her share on their personal tax return. …
More: continued here