Correct me if I am wrong, but a 1065 might be overkill for a one owner business (LLC or not). Yes you should report your LLC income separately on a 1065 & allocate profit/loss if there are multiple owners. However, if there is only one owner, it is IMO an extra unneeded step.

For a small business with one owner, a Schedule C (or C-EZ) attached to the 1040 will suffice. No need to send a 1065 to the IRS and then submit a K1; it is just a small business in the eyes of the IRS.

Keep it simple by keeping track/records of your business income and expenses and report it on the Sched C which attaches to your 1040.

Note: I am currently taking a corporate tax course & studying for the CPA exam. I prepared taxes as a VITA volunteer last year.