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Old 04-14-2015, 07:08 PM
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Exclamation Do not agree with K-1 issued by LLC partnership of 4 members

I have searched high and low, but cannot find what needs to be done if I do not agree with the K-1 issued by my partner. We have (or had) a 4-member LLC partnership from which 3 of us withdrew our interest. The remaining partner (or now a sole proprietor) has prepared the 1065 return by himself, without proper records or book-keeping. He has issued K-1 which the rest of us do not agree to.

IRS instructions state that I cannot file form 8082 since the partnership has fewer than 10 partners. What else can I do then ? I need to file my return !! Can I enter $0 as the K-1 income ? Please advice as this is time critical!



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