LLC Partnership Tax Organizer

  • LLC Partnership Tax Organizer

  • Partnership General Information

  • Is this a new address?
  • Check One:
  • Date business started
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  • Date business closed
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  • Was the primary purpose of the partnership activity to realize a profit?
  • Has the partnership reported any losses in prior years?
  • Accounting method:
  • Does the partnership file under a calendar year? (If no, what is the fiscal year?)

  • Partnership Specific Questions

  • Is there a written partnership agreement? (If this is the first year of the partnership’s existence, please provide a copy of the written partnership agreement.)
  • Are all partners actively participating in the business?
  • Is any shareholder in the partnership a disregarded entity, a partnership, a trust, an S corporation, or an estate?
  • Is the partnership a partner in another partnership?
  • Did any foreign or domestic corporation, partnership, trust, tax-exempt organization, individual, or estate own directly or indirectly 50% or more of the profit, loss, or capital of the partnership?
  • Did the partnership own directly 20% or more, or own directly or indirectly, 50% or more of the total voting power of all classes of stock entitled to vote of any foreign or domestic corporation?
  • Did the partnership have any non-shareholder debt that was cancelled, forgiven, or had terms modified to reduce amount of principal?
  • At any time during the year, did the partnership have an interest in, or signature authority over a financial account in a foreign country?
  • Does the partnership satisfy the following conditions? •The partnership’s total receipts for the tax year were less than $250,000, and •The partnership’s total assets at the end of the tax year were less than $1 million
  • Did the partnership pay $600 or more of nonemployee compensation to any individual? If yes, include (portal) a copy of Form 1099-NEC for each.

  • Principal Partners Ownership Information

  • Please provide the following principal partners ownership information: 

    • Name/Title
    • Tax ID number (SSN or EIN)
    • Address
    • Ownership percentage
    • General or limited partner*
    • U.S. citizen?

    *General partner. A general partner is a partner who is personally liable for partnership debts.

    Limited parter. A limited partner’s personal liability for partnership debts is limited to the amount of money or other property contributed
    or required to contribute to the partnership. 

  • Partners Other Transactions

  • Please provide the following transaction information:

    • Partner name
    • Guaranteed payments
    • Health insurance premiums paid 
    • Capital contributions from partner
    • Distributions to partner
    • Partner loans to the partnership
    • Loans repaid by partnership to partner

  • All Clients

    Additional information and documents required during upload.
    • Provide the income/financial statements for the year (per books),
      balance sheet, depreciation schedule per books, and cash reconciliation
      of business bank accounts with ending cash balance.
    • If the partnership has employees or paid independent contractors,
      provide a copy of all Forms W-2, W-3, 940, 941, 1096, 1099-NEC,
      1099-MISC, and any other forms issued to workers.
    • If any partners live in a different state or outside the U.S., provide
      details. The business may be subject to withholding requirements.
  • Date
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  • Should be Empty: