The answer

A multi-member LLC files Form 1065 with a Schedule K-1 for each member, due March 15, 2027 for tax year 2026, and consumer tax software does not cover it. To file it yourself, TaxAct Business ($159.99 + state) and TurboTax Desktop Business ($190, five federal e-files) are the published options; to hand it off, TaxAct Xpert Full Service ($249 + $69 for all states) is the lowest fixed price, and Keeper Business ($1,199 a year) adds the bookkeeping. Prices read 19 October 2026.

How a multi-member LLC gets taxedtax year 2026, calendar-year LLC
LLC, 2+ members tax year 2026 default taxed as a partnership unless Form 8832 elects Form 1065 + K-1s due Mon, Mar 15, 2027 Form 7004 extends filing K-1 to member A their share K-1: B K-1: C each member reports their share on their own 2026 return, due Apr 15, 2027 Miss March 15 without an extension: $255 x each member x each month late (max 12) Instructions for Form 1065 (2025) amount; check the 2026 edition The partnership itself pays no income tax: the 1065 is an information return.
The LLC files an information return and each member pays tax on their share. Classification is quoted from the IRS LLC page; the March 15 rule, Form 7004 and the $255 late-filing penalty from the Instructions for Form 1065 (2025). March 15, 2027 is a Monday, so no weekend shift applies.

What software files a multi-member LLC return?

Business editions file Form 1065; consumer editions do not. The return is a partnership return, so you need software that produces Form 1065 and a Schedule K-1 per member. This is a different job from the books: our accounting software guide for LLCs covers the ledger the return is prepared from, and this page covers the return.

We did not list H&R Block: on 14 October 2026 its desktop "Premium & Business" product ($115) did not confirm Form 1065 support on the pages we could read, and its site blocked our automated re-check on 19 October.

CeoCult earns a commission if you start a Keeper trial through the Keeper link above. It does not change the order or what we say; every other vendor link is a plain editorial link.

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How does the IRS treat a multi-member LLC?

As a partnership, unless it chooses otherwise. The IRS LLC page says "a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and affirmatively elects to be treated as a corporation." The election form is Form 8832; an S corporation election changes the return to Form 1120-S.

The partnership return reports income; it does not pay income tax. The IRS partnerships page says "The partnership must furnish copies of Schedule K-1 (Form 1065) to the partner," and each member reports their share on their own return. If you are weighing the S corporation route, our S corp vs LLC comparison runs the numbers, and how to pay yourself from an LLC covers guaranteed payments.

What does each option cost?

Doing the 1065 yourself costs $159.99 to $190 in software; having an expert do it costs $249 plus states at TaxAct and $1,549 plus state at TurboTax; a year-round firm costs $1,199 to $3,588 because it keeps the books too.

One Form 1065, nine price tagspricing pages read 19 October 2026
TaxAct Business 1065$159.99 + stateTurboTax Desktop Business$190 + stateTaxAct + Xpert Assist$248.99 + stateTaxAct Xpert Full Service$249 + $69 statesTurboTax Expert Assist$639 + stateKeeper Business (year)$1,199/yrTurboTax Expert Full Service$1,549 + statePilot + bookkeeping (year)from $3,188/yr1-800Accountant Starter (year)$3,588/yrPricing pages read 19 October 2026; per-return prices are the current season's tax-year2025 products.
Pilot's figure adds the $99 a month bookkeeping its tax plan requires to the $2,000+ starting price. TurboTax notes its Full Service new-customer offer excludes S corporation, partnership and multi-member LLC returns.

Where does QuickBooks fit?

QuickBooks keeps the books; it does not file Form 1065. QuickBooks Online lists Simple Start at $38, Essentials at $85, Plus at $140 and Advanced at $340 a month at list, with 50% off for three months and a 30-day free trial on 19 October 2026. The partnership's capital accounts and each member's share come out of those books, so clean books make every option above cheaper to use. QuickBooks pricing.

An LLC with employees: is payroll separate?

Yes. Payroll for employees is a separate service from the 1065, and members are not employees: the IRS partnerships page says "Partners are not employees and shouldn't be issued a Form W-2." Members who work in the business are paid through the partnership's books, for example as guaranteed payments, and those amounts flow through each member's K-1.

What are the deadlines and penalties?

The Instructions for Form 1065 set the due date as the 15th day of the 3rd month after the tax year ends: March 15, 2027 for a calendar-year 2026 return, a Monday. Form 7004, filed by that date, requests an automatic extension.

Late filing is expensive because it multiplies. The 2025 instructions set the penalty at $255 for each month or part of a month, up to 12 months, times the number of partners. The 2026 edition, for returns due in 2027, may adjust the amount.

Why a late 1065 gets expensive fastcomputed from the $255 rule
2 members, 1 month late$5102 members, 3 months late$1,5303 members, 6 months late$4,5904 members, 12 months late$12,240$255 per member per month (max 12), Instructions for Form 1065 (2025).
The penalty multiplies by members and months, so a four-member LLC that never files hits $12,240. Form 7004 by March 15 avoids it; reasonable cause can also excuse it, per the instructions.

How should your LLC file its 2026 Form 1065?

Will a member prepare the return if the software guides them?
  1. YesWill you file more than one business return this season?
    1. YesTurboTax Desktop Business ($190, five federal e-files included).
    2. NoTaxAct Business 1065 ($159.99 + state), or $248.99 with Xpert Assist if you want an expert on call.
  2. NoDo you also want someone to keep the books all year?
    1. YesKeeper Business ($1,199 a year) for a small LLC, or Pilot (from $2,000+ a year plus bookkeeping) for a venture-style one.
    2. NoTaxAct Xpert Full Service ($249 + $69 all states), the lowest fixed price for an expert-filed 1065.
Two friends, one side businessTaxAct Business 1065

Simple books and two K-1s are what the $159.99 product is for, and Xpert Full Service at $249 is the fallback if the first try stalls.

Weighing an S corporation electionDecide before you buy

The election changes the return from Form 1065 to Form 1120-S. TaxAct Business, TurboTax Desktop Business and Keeper Business all list both forms, so any of them survives the switch.

Wants books and return from one placeKeeper Business, $1,199 a year

It lists partnership filing, a year-end book review and close and quarterly payments in one plan, with a 14-day free trial.

Funded or fast-growing LLCPilot

Pilot pairs accountant-run bookkeeping with the partnership return, Delaware franchise tax and up to 25 1099-NEC filings.

Before you open any of these products, gather the year-end packet. Copy the list.

Form 1065 year-end packet (tax year 2026)
[ ] LLC EIN and the date the business started
[ ] Names, addresses and SSNs or EINs of every member
[ ] Each member's ownership and profit-sharing percentages
[ ] Opening and closing capital account for each member
[ ] Guaranteed payments to members during 2026
[ ] Books closed for 2026: profit and loss, balance sheet
[ ] 1099-NEC forms the LLC issued (and received)
[ ] Due date: March 15, 2027, or file Form 7004 by then
[ ] Send each member their Schedule K-1 once the return is done

For a small LLC with clean books, the 1065 is a $160 to $250 job. Spend more only when you are buying bookkeeping, not because the form is harder.

Members still file their own returns: see self-employed tax software for the 1040 side, LLC vs sole proprietorship if you are still choosing the structure, and our tax prep services comparison for single-owner returns.

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Frequently asked questions

What tax software can file a multi-member LLC return?

A multi-member LLC taxed as a partnership files Form 1065, which consumer tiers do not cover. On pages read 19 October 2026, TaxAct Business files Form 1065 for $159.99 plus state and TurboTax Desktop Business 2025 for $190 with five federal e-files, state sold separately. Expert-filed options run from TaxAct Xpert Full Service at $249 plus $69 for all states to TurboTax Expert Full Service at $1,549 plus state.

When is Form 1065 due for tax year 2026?

The Instructions for Form 1065 say a domestic partnership must file by the 15th day of the 3rd month after its tax year ends, so a calendar-year LLC files its 2026 return by March 15, 2027, a Monday. Form 7004, filed by that date, requests an automatic extension of time to file.

What is the penalty for filing Form 1065 late?

Under the Instructions for Form 1065 (2025), the penalty is $255 for each month or part of a month the return is late, up to 12 months, multiplied by the number of partners during the year. A two-member LLC that files three months late owes $1,530 before any reasonable-cause relief.

Can QuickBooks file Form 1065?

QuickBooks Online is bookkeeping software: it keeps the books the 1065 is prepared from, but its plans (Simple Start $38 to Advanced $340 a month at list on 19 October 2026) do not file the partnership return. Pair it with tax software or a preparer.

Is a two-member LLC always taxed as a partnership?

By default, yes. The IRS says a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and elects to be treated as a corporation; an LLC can also elect S corporation status, which changes the return to Form 1120-S.

How we built this page

How we built this page: we read each provider's published pricing and plan pages on 19 October 2026 and the IRS pages and Instructions for Form 1065 (2025) linked above, and drew demand from the questions AI assistants cite CeoCult for. We did not file a return with these services for this comparison. Prices are for the current season's tax-year 2025 products and usually change when the filing season opens in January.

This is general information, not tax advice for your situation. CeoCult is an affiliate of Keeper; see our disclosure.