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Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28084
Experience:  Taxes, Immigration, Labor Relations
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I filed 1040 last two years but should have filed a

Customer Question

I filed 1040 for LLC last two years but should have filed a 1065. How can I go back and change it?
JA: The Accountant will know how to help. Please tell me more so we can help you best.
Customer: We have an LLC and filed 1040 but in 2013 and 2014 we claimed income for both. We now need to file that on 1065. Can we go back and amend to file on different forms.
JA: Anything else I can tell the Accountant before I connect you two?
Customer: We have travel expenses, can we use stndard deduction for meals and hotels?
JA: I'm sending you to a secure page on JustAnswer so you can place the $5 fully refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and connect you two.
Submitted: 8 months ago.
Category: Tax
Expert:  Lev replied 8 months ago.
If that is an LLC with several members - then you are correct - such LLC is classified as a partnership for income tax purposes - and must file its own tax return on form 1065.
Expert:  Lev replied 8 months ago.
If that was not done - you would need to prepare these tax returns now and issue forms K1 to members for every year.Then - every member will need to amend his/her tax return - and make corrections.These will steps to follow.Please be aware of additional penalties for late filing of forms 1065.,.I appreciate if you take a moment to rate the answer.Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all tax related issues.