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Who can file a South Carolina composite return?

A composite return is a single return filed by a partnership, S corporation, or Limited Liability Company (LLC) taxed as a partnership or S corporation on behalf of two or more nonresident participants.

Can I file a 1065 for my LLC?

If the LLC is a partnership, normal partnership tax rules will apply to the LLC and it should file a Form 1065, U.S. Return of Partnership Income. Each owner should show their pro-rata share of partnership income, credits and deductions on Schedule K-1 (1065), Partners Share of Income, Deductions, Credits, etc.

Is South Carolina accepting state tax returns?

Yes, as long as you filed a 2021 South Carolina Individual Income Tax return and meet the eligibility requirements. If you need to update your address, see the instructions above.

Can I file a 1065 with TurboTax?

You can file Form 1065 using TurboTax Business. Go here for instructions on entering your Schedule K-1 for your individual tax return. Whats a 1041 form?

What is an SC K 1?

General purpose SC1065 K-1 is prepared by the partnership to show each partners share of the entitys income. Each item of income is adjusted as required by South Carolina law and allocated or apportioned to South Carolina or to states other than South Carolina.

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