final year return

[gman]

LLC filed with the State to terminate as July 1, 2014, must there be a fedeal return for the year 2014? No income or expenses for the months Jan-June.

[Burke]

I would, just to file a Final return for the IRS files.

[AZUKHiker]

Depends on tax staus

Depends on how the LLC is taxed.

If it is a SMLLC and disregarded entity then I would say no Schedule C is needed for 2014.

If it is being taxed as an S-Corp, C-Corp or Partnership then you have final returns do for those entities including reporting the final distribution of assets.

Also don't forget the filing deadlines if the final return is for a short tax year.

[taxea]

maybe there was no income or expenses but what about assets that were being depreciated? What happened to them? Regardless of type of business I would prepare a partial year/final return to close it out with the IRS.

[Burke]

Both of above replies are good points. Since the exact description & details were not included in the OP, I should have been more specific.