When to file my final partnership tax return for a mid-year LLC dissolution?

You're right to be careful about this. For a partnership that dissolved mid-year 2024, you should file your final 1065 using the 2024 tax forms, not the 2023 forms. This is because the return needs to reflect the tax year in which the business operated. Since the 2024 forms won't be available until later this year or early 2025, you'll need to file an extension using Form 7004. This will give you until March 15, 2025, which should be plenty of time after the 2024 forms are released. The extension is automatically granted when you file it. On your final 1065, you'll check the "Final return" box at the top of the form to indicate this is the last return for the partnership. You'll also need to file Schedule K-1s for each partner showing their share of income/expenses for that partial year.

I recently went through something similar with my LLC that was dissolved mid-2023 and found the wait for the proper forms frustrating. I stumbled upon taxr.ai (https://taxr.ai) which actually helped me figure out the exact filing requirements for a mid-year dissolution. The site actually analyzes all your tax documents and tells you exactly what forms you need and when to file them. What I found super helpful was that it clearly showed me I needed to wait for the 2023 forms rather than using 2022 forms - and explained the reasoning with actual IRS references. Saved me from making what could have been a costly mistake!

Just wanted to follow up - I went ahead and tried taxr.ai after seeing it mentioned here and it was exactly what I needed! I was planning to dissolve my S-Corp later this year and had all these questions about final return timing. The system analyzed my previous returns and laid out a clear timeline with the exact forms needed. It specifically highlighted that I needed to wait for the 2024 forms and even gave me a checklist of final filing requirements I hadn't considered (like Form 966 and final employment tax returns). Would have missed several important steps without it. Definitely check it out if you're in a similar situation with your partnership return!

As someone who spent 3 weeks trying to get through to the IRS about a similar issue with my partnership's final return, I wish I'd known about Claimyr (https://claimyr.com) sooner. I was getting nowhere with the automated system and couldn't get a human to answer my questions about filing deadlines. Claimyr got me connected to an actual IRS agent in about 20 minutes when I'd been trying for days. You can see how it works in this video: https://youtu.be/_kiP6q8DX5c. The agent confirmed exactly what I needed to do for my final partnership return and cleared up my questions about using the correct year's forms. Definitely worth it for getting a definitive answer straight from the IRS.

I have to apologize for my skepticism about Claimyr and eat my words. After posting my skeptical comment, I figured I'd try it since I needed to ask about amending my previous partnership return anyway. It actually worked exactly as described - I was connected to an IRS agent in about 25 minutes (which is miraculous compared to my previous attempts). The agent walked me through exactly what I needed to do, confirmed I needed to use 2024 forms for a 2024 dissolution, and even sent me an email with the specific references. Never would have gotten this clarity without actually speaking to someone, and I literally couldn't get through on my own after multiple attempts. Saved me hours of frustration and uncertainty.

Another option worth considering - you could file your final 1065 using the 2023 forms but include a statement attached to the return explaining that this is a final return for an entity that dissolved in June 2024, and you're using prior year forms because the current year forms aren't available yet. I've done this before without issues. The key is making sure you clearly indicate it's a final return and attaching that explanatory statement. From a practical standpoint, the forms don't typically change dramatically from year to year, especially for the basic partnership reporting.

I found myself in this exact situation last year with my partnership. We dissolved in May 2023, and I was confused about whether to use 2022 or 2023 forms. I ended up filing the extension with Form 7004 and waiting for the 2023 forms to be released. It was annoying to have that hanging over my head for months, but in the end, it was the cleanest approach. The final return was accepted without issues once I filed it in January using the correct year forms. One tip I'd add - make sure you file final Schedule K-1s for each partner and clearly mark them as FINAL. Also remember to file any required state dissolution paperwork, which is separate from your tax obligations.

I went through this exact scenario with my LLC partnership that dissolved in August 2024. After calling the IRS and speaking with a tax professional, here's what I learned: You absolutely need to use the 2024 forms for your 2024 dissolution - using 2023 forms could create processing issues and potential penalties. The IRS considers this a 2024 tax year event regardless of when it occurred during the year. Here's my recommended timeline: 1. File Form 7004 by March 15, 2025 (the original due date) to get an automatic extension until September 15, 2025 2. Wait for the 2024 Form 1065 to be released (usually late December 2024 or January 2025) 3. File your final return using the 2024 forms During the waiting period, keep all your records organized and consider preparing a draft return using the 2023 forms just to identify any issues early. When the 2024 forms come out, you can quickly transfer everything over. Also don't forget - you'll need to distribute final Schedule K-1s to all partners and handle any state-level dissolution requirements separately. The wait is frustrating but it's worth doing it right the first time!