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Form 1065 - Question 4 of Schedule B

I am filing a late (and final) Form 1065 for a business that had 0 income, 0 expenses, 0 assets, and 0 liabilities.

I am hesitant on answering "Yes' on question 4 of Schedule B because one of the points is that K-1s were furnished by the partnership deadline. They were not and and the partnership did not request an extension.

I am receiving the following error message: If question 4 of Schedule B, the "Partnership Met Requirement", is checked as "No", then Total Assets (Form 1065, Line F) must be significant or zero, AND Form 1065, Schedules L, M-1 and M-2 must be significant.

Does anybody have a solution for this? 

 

Labels (1)
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2 Replies 2
sjrcpa
Level 15

File on paper.

Or don't file at all. Based on your numbers (zeroes), is there a filing requirement?


ex-AllStar
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The purpose of filing is to notify the IRS and state that this is the final return.

Do you know how to address the critical diagnostic?

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