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.
asked 29 Mar '12, 02:26