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Updated about 12 years ago on .
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Filling out a k-1 on 1065
I know there is most likely a long answer to this but I have made it to the point of filling out my k-1 forms and am stuck.
I created an LLC (partnership) last year with 2 members - myself and my wife.
Section K of the k-1 is asking for "Partner’s share of liabilities at year end".
The LLC is for a triplex that I own, but was financed and titled in my name.
I's assuming since its an "LLC" this would be all zeros?
Tried to call the IRS but the operator said that she was not familiar with this form and wanted to type the question up and someone would respond within 15 days?