U.S. Return of Income for Electing Large Partnerships

Instructions for Form 1065-B

• Changes To Note
• Photographs of Missing Children
• Unresolved Tax Issues
• How To Get Forms and Publications
  • Personal Computer
  • CD-ROM
  • By Phone and In Person
• General Instructions
  • Purpose of Form
  • Electing Large Partnership Status
  • Definitions
    • Partnership
    • Foreign Partnership
    • General Partner
    • General Partnership
    • Limited Partner
    • Limited Partnership
    • Limited Liability Partnership
    • Limited Liability Company
    • Nonrecourse Loans
  • Termination of the Partnership
  • When To File
    • Private Delivery Services
    • Extension
    • Period Covered
  • Where To File
  • Who Must Sign
    • General Partner or LLC Member
    • Paid Preparers Information
    • Paid Preparer Authorization
  • Interest and Penalties
    • Interest
    • Late Filing of Return
    • Late Payment of Tax
    • Failure To Furnish Information Timely
    • Trust Fund Recovery Penalty
  • Accounting Methods
    • Mark-to-Market Accounting Method for Dealers in Securities
  • Accounting Periods
  • Rounding Off to Whole Dollars
  • Recordkeeping
  • Administrative Adjustment Requests
  • Other Forms, Returns, and Statements That May Be Required
  • Assembling the Return
  • Overview
  • Separately Stated Items
  • Limitations
  • Elections Made by the Partnership
  • Elections Made by Each Partner
  • Partners Dealings With Partnership
  • Contributions to the Partnership
  • Dispositions of Contributed Property
  • Recognition of Precontribution Gain on Certain Partnership Distributions
  • Unrealized Receivables and Inventory Items
  • Activities of Electing Large Partnerships
    • Passive Loss Limitation Activities
      • Trade or Business Activities
      • Rental Activities
    • Other Activities
  • Special Reporting Requirements
    • General Partners
      • Passive Activity Reporting Requirements
      • Grouping Activities
    • Tax-Exempt Partners
    • Publicly Traded Partnerships
    • Partnerships Holding Residual Interests in Real Estate Mortgage Investment Conduits (REMICs)
    • Partnerships Holding Oil and Gas Properties
  • Extraterritorial Income Exclusion
• Specific Instructions
  • General Information
    • Name, Address, and Employer Identification Number
    • Items A and C
    • Item F - Total Assets
  • Part I - Taxable Income or Loss from Passive Loss Limitation Activities
    • Income
      • Line 1a - Gross Receipts or Sales
      • Line 2 - Cost of Goods Sold
      • Line 4 - Net Income (Loss) From Rental Real Estate Activities
      • Line 5 - Net Income (Loss) From Other Rental Activities
      • Line 6 - Ordinary Income (Loss) From Other Partnerships, Estates, and Trusts
      • Line 7 - Net Farm Profit (Loss)
      • Line 9 - Net Gain (Loss) From Form 4797
      • Line 10 - Other Income (Loss)
    • Deductions
      • Limitations on Deductions
      • Line 12 - Salaries and Wages
      • Line 13 - Guaranteed Payments to Partners
      • Line 14 - Repairs and Maintenance
      • Line 15 - Bad Debts
      • Line 16 - Rent
      • Line 17 - Taxes and Licenses
      • Line 18 - Interest
      • Line 19 - Depreciation and Section 179 Expense Deduction
      • Line 20 - Depletion
      • Line 21 - Retirement Plans, etc.
      • Line 22 - Employee Benefit Programs
      • Line 23 - Other Deductions
      • Special Rules
      • Line 26 - Tax
      • Line 27
      • Line 28
  • Part II - Taxable Income or Loss From Other Activities
    • Lines 1 and 2
    • Line 5
    • Line 7
    • Line 8
    • Line 9
    • Lines 10a and 10b
    • Line 11
  • Schedule A - Cost of Goods Sold
    • Line 1 - Inventory at Beginning of Year
    • Line 2 - Purchases
    • Line 4 - Additional Section 263A Costs
    • Line 5 - Other Costs
    • Line 7 - Inventory at End of Year
    • Lines 9a through 9e - Inventory Valuation Methods
  • Schedule B - Other Information
    • Question 1
    • Question 3
    • Question 4 - Foreign Partners
    • Question 5
    • Question 6
    • Question 7 - Foreign Accounts
    • Question 8
  • Schedule D - Capital Gains and Losses
    • Purpose of Schedule
    • What are Capital Assets?
    • Overview of Large Partnership Provisions
    • Items for Special Treatment
    • Specific Instructions
      • Columns (b) and (c) - Date Acquired and Date Sold
      • Column (d) - Sales Price
      • Column (e) - Cost or Other Basis
      • Column (f) - Gain or (Loss)
      • Column (g) - 28% Rate Gain or (Loss)
      • Capital Gains and Losses From Other Partnerships, Estates, and Trusts
  • Schedules K and K-1 - Partners Shares of Income, Credits, Deductions, etc.
    • Purpose of Schedules
    • Substitute Forms
    • How Income Is Shared Among Partners
  • Specific Instructions for Schedules K and K-1
    • Partner
    • Tax Shelter Registration Number (Schedule K-1)
    • Line 1 - Taxable Income (Loss) From Passive Loss Limitation Activities
    • Line 2 - Taxable Income (Loss) From Other Activities
    • Line 3 - Net Capital Gain (Loss) From Passive Loss Limitation Activities
    • Line 4 - Net Capital Gain (Loss) From Other Activities
    • Lines 5 and 6
    • Line 7 - Guaranteed Payments to Partners
    • Line 8 - Income From Discharge of Indebtedness
    • Line 9 - Tax-Exempt Interest Income
    • Line 10 - General Credits
    • Lines 11 and 12
    • Line 13
    • Line 14 - Net Earnings From Self-Employment
      • Worksheet Instructions
    • Line 15 - Foreign Tax Credit Information
      • Line 15a - Name of Foreign Country or U.S. Possession
      • Line 15b - Gross Income From All Sources
      • Line 15c - Gross Income Sourced at Partner Level
      • Line 15d - Foreign Gross Income Sourced at Partnership Level
      • Line 15e - Deductions Allocated and Apportioned at Partner Level
      • Line 15f - Deductions Allocated and Apportioned at Partnership Level to Foreign Source Income
      • Line 15g - Total Foreign Taxes
      • Line 15h - Reduction in Taxes Available for Credit
    • Line 16
  • Instructions for the Unrecaptured Section 1250 Gain Worksheet
  • Box 9 Codes(Schedule K-1)
  • Analysis of Net Income (Loss)
  • Schedule L - Balance Sheet per Books
    • Line 5 - Tax-Exempt Securities
    • Line 18 - All Nonrecourse Loans
  • Schedule M-1 - Reconciliation of Income (Loss) per Books With Income (Loss) per Return
    • Line 3 - Guaranteed Payments
    • Line 4b - Travel and Entertainment
  • Schedule M-2 - Analysis of Partners Capital Accounts
    • Line 2 - Capital Contributed During Year
    • Line 3 - Net Income (Loss) per Books
    • Line 6 - Distributions

A

• Accounting Methods:
• Accounting Methods:
• Accounting Methods:
• Accounting Methods:
• Accounting Periods
• Activities of Electing Large Partnerships
• Administrative Adjustment Requests
• Analysis of Net Income (Loss)
• Assembling the Return

B

• Business Start-Up Expenses

C

• Capital Assets
• Codes:
• Contributions to the Partnership
• Cost of Goods Sold
• Cost of Goods Sold
• Cost of Goods Sold

D

• Deductions:
• Deductions:
• Deductions:
• Deductions:
• Deductions:
• Deductions:
• Deductions:
• Deductions:
• Deductions:
• Deductions:
• Deductions:
• Deductions:
• Deductions:
• Deductions:
• Deductions:
• Deductions:
• Deductions:
• Deductions:
• Deductions:
• Definitions
• Discharge of Indebtedness
• Dispositions of Contributed Property
• Distributions

E

• Elections:
• Elections:
• Extraterritorial Income Exclusion
• Extraterritorial income exclusion

F

• Foreign Accounts
• Foreign Partners
• Foreign Partnership
• Foreign Tax Credit
• Forms, Returns, and Statements That May Be Required

G

• General Credits
• General Partner
• General Partnership
• Guaranteed Payments to Partners

I

• Income:
• Income:
• Income:
• Income:
• Income:
• Income:
• Interest Income
• Interest charged
• Inventory Valuation Methods
• Investment Interest
• Items for Special Treatment
• Items for Special Treatment
• Items for Special Treatment
• Items for Special Treatment
• Items for Special Treatment

L

• Limited Liability Company
• Limited Liability Partnership
• Limited Partner
• Limited Partnership

M

• Miscellaneous Itemized Deductions

N

• Net Earnings From Self-Employment
• Nonrecourse Loans
• Nonrecourse Loans

O

• Ordinary dividends
• Organization Costs
• Overview of Large Partnership Provisions
• Overview of Large Partnership Provisions

P

• Paid Preparer
• Paperwork Reduction Act Notice
• Partners Share of Liabilities (Schedule K-1)
• Partnership Holding:
• Partnership Holding:
• Passive Activity Reporting Requirements
• Passive Loss Limitation Activities
• Penalties:
• Penalties:
• Penalties:
• Penalties:
• Private Delivery Services
• Publicly Traded Partnerships

R

• Recordkeeping
• Rental Activities

S

• Schedule A-Cost of Goods Sold
• Schedule D-Capital Gains and Losses
• Schedule D-Capital Gains and Losses
• Schedule K and K-1, Partner
• Schedule L, Balance Sheet per Books
• Schedule M-1, Reconciliation of Income (Loss)
• Schedule M-2, Analysis of Partners
• Separately Stated Items
• Substitute Forms
• Syndication Costs

T

• Tax
• Tax Issues, Unresolved
• Tax Shelter Registration Number
• Tax-Exempt Interest Income
• Tax-Exempt Partners
• Tax-Exempt Securities
• Termination of the Partnership
• Trade or Business Activities
• Transactions Between Related Taxpayers
• Travel and Entertainment

U

• Unrealized Receivables and Inventory Items
• Unrecaptured section 1250 gain
• Unrecaptured section 1250 gain

W

• When To File
• Where To File
• Who Must Sign

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