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Thanks to Jack for the information.

But to compound my problem, I called the IRS a second time concerning the late 1065 and was given the reason for the penalty and also found out:

That the 1997 return also had a $500.00 penalty against me for not filing the K1 forms with the 1065. I don't remember clearly but maybe forgot to file them. And I moved in June of 98 and the IRS mailed me a penalty notice on Oct. & Nov. of 98, but to my old address so I had no idea of this penalty. At the moment the IRS person I talked to said it was inactive.

So I must now deal with this problem as well. Any suggestions on this?

Doing this partnership to try and be legal has turned into a nightmare, should have played dumb!


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