IRonMaN
Level 15
10-16-2020
03:17 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Looks like there are two different paths to choose from:
1. Amend the partners' 1040s for the 3 years as well as prepare 1065s for the years.
2. Start doing things right this year and tell them to both start going to church every Sunday and sit in the front pew and pray that their lottery number doesn't come up at the IRS.
As a side note to aid in path selection, did they have a partnership checkbook and act like a partnership or did they run things like 2 individual businesses?
Slava Ukraini!