sjrcpa
Level 15
03-24-2021
05:02 PM
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Partnerships do have to file tax returns - 1065 and state.
Do they perchance have Operating Agreements that say how income/loss will be allocated?
Did the title to the properties really get transferred to the LLCs?
Partnerships with special allocations are not for the feint of heart/inexperienced.
Many states also have annual fees for LLCs.
Ex-AllStar