“The IRS May See a Partnership Where You Don’t
—Here’s What to Do About It”
To get my complete article
with all the details…
You may be in a partnership for federal tax purposes—even if you never signed a partnership agreement or formed an entity.
If you co-own property or a business with others and share income or expenses, the IRS could classify your arrangement as a partnership. That means Form 1065 filings, Schedule K-1s, and the risk of steep penalties for non-compliance.
The good news? You might be eligible to elect out of partnership status—saving time, stress, and filing costs.
Our latest article breaks down:
- The rules that could trip you up—even when no formal partnership exists
- When and how to affirmatively elect not to be treated as a partnership
- Real-world examples of both common pitfalls and simple solutions
- How to preserve your eligibility for powerful tax advantages, like 1031 exchanges
CLICK HERE to read my completely new article titled:
“Avoid Unwanted Partnership
Tax Status: Elect Out”