If an LLC elects to be treated as a partnership for U.S. federal income tax purposes, is it required to file Schedule M-3 for its December 31, 2004 year end?
For purposes of Schedule M-3, references to the classification of an entity are references to the treatment of the entity for U.S. federal income tax purposes. Schedule M-3 is not required for any taxpayer other than those identified in the 2004 Schedule M-3 Instructions. For example, taxpayers required to file Form 1065, U.S. Return of Partnership Income are not required to file Schedule M-3 with the 2004 tax return.
Related Questions
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