Communications
club_cafe
HelpRegister
club_cafe: New Club - 2005 taxes
In a message dated 2/2/2006 10:11:30 A.M. Eastern Standard Time, missy813@bivio.com writes:
Our club applied for our EIN in July, but did not purchase
any stock in 2005.  We just made our first stock purchase in
January 2006.  Do we still have to file 1065 and K1 tax
forms for last year?

Our club address is in Washington, DC, but our 13 members
are spread across 6 states.
Once you get an EIN, the IRS expects to see a tax return. If the club had any income (interest) or expense (are you paying for bivio?), you are required to file a return. Depending on the states in which your members live, you might have filing requirements there as well. (I know that NY requires an IT-204 from any partnership with NY-resident partners.)
 
Ira Smilovitz
Is there a central location where I can find out if there
are state filing requirements for each of my club members?
We are located in Washington, DC, Maryland, Virginia,
California, Alabama, Florida, and Georgia.

Monique Greene
Capitol City Investment Club

IraS1@aol.com wrote:
> In a message dated 2/2/2006 10:11:30 A.M. Eastern Standard Time,
> missy813@bivio.com writes:
> Our club
> applied for our EIN in July, but did not purchase
> any stock in 2005. 
> We just made our first stock purchase in
> January 2006.  Do we still
> have to file 1065 and K1 tax
> forms for last year?
>
> Our club address
> is in Washington, DC, but our 13 members
> are spread across 6
> states.
>
>
> Once you get an EIN, the IRS expects to see a tax return. If the club had
> any income (interest) or expense (are you paying for bivio?), you are
> required to file a return. Depending on the states in which your members live,
> you might have filing requirements there as well. (I know that NY requires an
> IT-204 from any partnership with NY-resident partners.)
>  
> Ira Smilovitz