Filing requirements for LLC formed to purchase land for use of partners, no income

Do we need to file Form 1065 or any other tax forms in this case?

Background : We formed an LLC to purchase and title land as a group of partners for the use and enjoyment of the partners. The LLC is not intended to, nor will, nor did, produce any income. The LLC incurred expenses to purchase and improve the land. The partners all contributed capital for these expenditures, but will only get the use of the property in return for their investment.

llc 1065

asked 29 Mar '12, 02:26

GlenLake
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accept rate: 0%

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