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    ajharish's Avatar
    ajharish Posts: 10, Reputation: 1
    New Member
    		  
    #1

    Mar 11, 2010, 05:57 PM
    Form 1065 on H1 B
    Hi,

    I'm currently working on H1 B visa and I am a partner(passive) in a LLC company since last year. This year I received 1065 (k-1) for the company. In the form, under line# 14 showed the self employment earnings. Can you please let me know if this is an issue with my immigration status? Also I file my taxes for income from w-2 without income from 1065. Can you please let me know how should I proceed with filing my amended tax fors (1040x)? Thanks
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Mar 11, 2010, 11:42 PM

    You must report K-1 income on your tax return.
    ajharish's Avatar
    ajharish Posts: 10, Reputation: 1
    New Member
    		  
    #3

    Mar 12, 2010, 06:37 AM
    Quote Originally Posted by MukatA View Post
    You must report K-1 income on your tax return.
    Thank your for your reply, but will this be an issue with my H1 b status? Im just an investing partner and the K-1 shows big $ as self employed income? Is this really self employed income? I know this is not immigration section but any one who are in the similar situation, please let me know your thoughts/how you handled this?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Apr 30, 2010, 12:44 PM
    It should NOT be a problem, provided you can show that you are a passive partner.
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