Limited liability companies, or LLCs, are legal business structures formed by filing documents with the state. The Internal Revenue Service automatically treats LLCs with more than one owner as a ...

Schedule K-1 details income from pass-through entities for tax reporting. Investors must allocate K-1 income by state to meet nonresident tax obligations. Credits may be available for taxes paid to ...

With the partnership business structure, the company files a Form 1065 tax return for the business, but the individual partners claim business profits and losses on their individual tax returns. Each ...

Section 199A provides up to a 20 percent special deduction of profits for having a business, an ownership in a partnership or S corporation (including a rental operation in most cases). For example, ...