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Instructions for Form 1065

• 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
  • Definitions
    • Partnership
    • Foreign Partnership
    • General Partner
    • General Partnership
    • Limited Partner
    • Limited Partnership
    • Limited Liability Partnership
    • Limited Liability Company
    • Nonrecourse Loans

  • Who Must File
    • Domestic Partnerships
    • Foreign Partnerships

  • Termination of the Partnership
  • Electronic Filing
    • For more details on electronic filing, see:
    • For more information on filing electronically:
    • Electronic Filing Waiver

  • When To File
    • Private Delivery Services
    • Extension
    • Period Covered

  • Who Must Sign
    • General Partner or LLC Member
    • Paid Preparer
    • Paid Preparer Authorization

  • Penalties
    • Late Filing of Return
    • Failure To Furnish Information Timely
    • Trust Fund Recovery Penalty

  • Accounting Methods
    • Mark-to-market accounting method.
    • Accounting Periods
    • Rounding Off to Whole Dollars
    • Recordkeeping
    • Amended Return
    • Other Forms, Returns, and Statements That May Be Required
    • Assembling the Return
    • Separately Stated Items
    • Elections Made by the Partnership
    • Elections Made by Each Partner
    • Partner
    • Contributions to the Partnership
    • Dispositions of Contributed Property
    • Recognition of Precontribution Gain on Certain Partnership Distributions
    • Unrealized Receivables and Inventory Items
    • Passive Activity Limitations
      • Activities That Are Not Passive Activities
      • Trade or Business Activities
      • Rental Activities
      • Portfolio Income
        • Self-Charged Interest

      • Grouping Activities
      • Recharacterization of Passive Income
      • Passive Activity Reporting Requirements

    • Extraterritorial Income Exclusion
    • Specific Instructions
      • General Information
        • Name, Address, and Employer Identification Number
        • Items A and C
        • Item F - Total Assets
        • Item G

      • Income
        • Line 1a - Gross Receipts or Sales
        • Line 2 - Cost of Goods Sold
        • Line 4 - Ordinary Income (Loss) From Other Partnerships, Estates, and Trusts
        • Line 5 - Net Farm Profit (Loss)
        • Line 6 - Net Gain (Loss) From Form 4797
        • Line 7 - Other Income (Loss)

      • Deductions
        • Limitations on Deductions
        • Line 9 - Salaries and Wages
        • Line 10 - Guaranteed Payments to Partners
        • Line 11 - Repairs and Maintenance
        • Line 12 - Bad Debts
        • Line 13 - Rent
        • Line 14 - Taxes and Licenses
        • Line 15 - Interest
        • Line 16 - Depreciation
        • Line 17 - Depletion
        • Line 18 - Retirement Plans, etc.
        • Line 19 - Employee Benefit Programs
        • Line 20 - Other Deductions
          • Special Rules

      • Schedule A - Cost of Goods Sold
        • 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 9c - Inventory Valuation Methods

      • Schedule B - Other Information
        • Question 1
        • Question 3
        • Question 4 - Consolidated Audit Procedures
        • Question 5
        • Question 6 - Foreign Partners
        • Question 7
        • Question 8
        • Question 9 - Foreign Accounts
        • Question 10

      • Designation of Tax Matters Partner (TMP)
      • Schedules K and K-1 - Partners
        • Purpose of Schedules
        • Substitute Forms
        • How Income Is Shared Among Partners

      • Specific Instructions (Schedule K-1 Only)
        • General Information
        • Specific Items and Questions
          • Question A
          • Question B - What Type of Entity Is This Partner?
          • Question C - Domestic/Foreign Partner
          • Item D - Partner
          • Item F - Partner
          • Item G - Tax Shelter Registration Number
          • Item J - Analysis of Partner

      • Specific Instructions (Schedules K and K-1, Except as Noted)
        • Special Allocations
        • Income (Loss)
          • Line 1 - Ordinary Income (Loss) From Trade or Business Activities
          • Line 2 - Net Income (Loss) From Rental Real Estate Activities
          • Line 3 - Net Income (Loss) From Other Rental Activities
          • Lines 4a Through 4f - Portfolio Income (Loss)
          • Line 5 - Guaranteed Payments to Partners
          • Line 6 - Net Section 1231 Gain (Loss) (Other Than Due to Casualty or Theft)
          • Line 7 - Other Income (Loss)

        • Deductions
          • Line 8 - Charitable Contributions
          • Line 9 - Section 179 Expense Deduction
          • Line 10 - Deductions Related to Portfolio Income
          • Line 11 - Other Deductions

        • Credits
          • Line 12a - Low-Income Housing Credit
          • Line 12b - Qualified Rehabilitation Expenditures Related to Rental Real Estate Activities
          • Line 12c - Credits (Other Than Credits Shown on Lines 12a and 12b) Related to Rental Real Estate Activities
          • Line 12d - Credits Related to Other Rental Activities
          • Line 13 - Other Credits

        • Investment Interest
          • Line 14a - Interest Expense on Investment Debts
          • Lines 14b(1) and 14b(2) - Investment Income and Expenses

        • Self-Employment
          • Worksheet Instructions
          • Line 15a - Net Earnings (Loss) From Self-Employment
          • Line 15b - Gross Farming or Fishing Income
          • Line 15c - Gross Nonfarm Income

        • Adjustments and Tax Preference Items
          • Line 16a - Depreciation Adjustment on Property Placed in Service After 1986
          • Line 16b - Adjusted Gain or Loss
          • Line 16c - Depletion (Other Than Oil and Gas)
          • Lines 16d(1) and 16d(2)
          • Line 16e - Other Adjustments and Tax Preference Items

        • Foreign Taxes
          • Line 17a - Name of Foreign Country or U.S. Possession
          • Line 17b - Gross Income From All Sources
          • Line 17c - Gross Income Sourced at Partner Level
          • Line 17d - Foreign Gross Income Sourced at Partnership Level
          • Line 17e - Deductions Allocated and Apportioned at Partner Level
          • Line 17f - Deductions Allocated and Apportioned at Partnership Level to Foreign Source Income
          • Line 17g - Total Foreign Taxes
          • Line 17h - Reduction in Taxes Available for Credit

        • Other
          • Lines 18a and 18b
          • Line 19 - Tax-Exempt Interest Income
          • Line 20 - Other Tax-Exempt Income
          • Line 21 - Nondeductible Expenses
          • Line 22 - Distributions of Money (Cash and Marketable Securities)
          • Line 23 - Distributions of Property Other Than Money
          • Line 24 (Schedule K Only)
          • Lines 24a and 24b (Schedule K-1 Only) - Recapture of Low-Income Housing Credit
          • Line 25 (Schedule K-1 Only) - Supplemental Information

      • Analysis of Net Income (Loss)
      • Schedule L - Balance Sheets 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
        • Line 2 - Capital Contributed During Year
        • Line 3 - Net Income (Loss) per Books
        • Line 6 - Distributions

Index

[ Click for Table of Contents ]

A

• Accounting methods
• Accounting periods
• Adjustments for certain credits
• Allocation of partnership items, Contributed property
• Allocation of partnership items, Partnership agreement
• Alternative minimum tax, Adjustments and tax preference items
• Analysis of partner
• Assembling the Return
• Audits, Consolidated audit procedures
• Audits, Tax Matters Partner

B

• Business start-up expenses

C

• Capital construction fund
• Capital construction fund
• Change of address
• Charitable contribution
• Codes, Entity
• Contributions to the partnership
• Cost of goods sold
• Cost of Goods Sold, Inventory
• Credits
• Credits, Energy, Reforestation
• Credits, Energy, Reforestation
• Credits, Federal tax paid on fuels
• Credits, Low-income housing
• Credits, Rehabilitation (rental real estate)
• Credits, Rental activities

D

• Deductions, Bad debts
• Deductions, Depletion
• Deductions, Depreciation
• Deductions, Employee benefit programs
• Deductions, Entertainment facilities
• Deductions, Guaranteed payments
• Deductions, How to report
• Deductions, Interest
• Deductions, Limitations
• Deductions, Membership dues
• Deductions, Rent
• Deductions, Repairs and maintenance
• Deductions, Retirement plans
• Deductions, Salaries and wages
• Deductions, Salaries and wages, Wages
• Deductions, Taxes and licenses
• Deductions, Transactions between related taxpayers
• Deductions, Travel, Meals and entertainment
• Deductions, Wages
• Definitions
• Depletion, Oil and gas wells
• Depreciation, Income forecast method
• Dispositions of contributed property
• Distributions, Cash
• Distributions, Property
• Distributions, Recognition of precontribution gain

E

• Elections, By each partner
• Elections, By the partnership
• Electronic filing
• Extension
• Extraterritorial income exclusion

F

• Foreign accounts
• Foreign partners, withholding
• Foreign Trusts, transactions
• Forms, Forms you may need
• Forms, How to get them

G

• Gain (loss), section 1231
• General partner
• General partnership

I

• Income, trade or business
• Indian employment credit
• Installment sales
• Interest on production expenditures
• Inventory valuation
• Investment interest expense

L

• Limited liability company
• Limited liability partnership
• Limited partner
• Limited partnership

N

• Nondeductible expenses
• Nonrecourse liabilities
• Nonrecourse loans

O

• Organization costs

P

• Passive activity limitations
• Passive activity limitations, Grouping activities
• Passive activity limitations, Passive activities defined
• Passive activity limitations, Reporting requirements
• Passive activity limitations, Trade or business activities
• Penalties
• Portfolio income
• Publicly traded partnerships
• Publicly traded partnerships
• Publicly traded partnerships
• Publicly traded partnerships
• Publicly traded partnerships

Q

• Qualified electric vehicle credit

R

• Real estate investment trust (REIT)
• Real estate investment trust (REIT)
• Recapture, Investment credit
• Recapture, Low-income housing credit
• Recapture, Mining exploration expenditures
• Recapture, Section 179 expense deduction
• Recapture, Section 179 expense deduction
• Regulated investment company
• Regulated investment company
• Regulated investment company
• Regulated investment company
• Rental activities

S

• Sale of partnership interests
• Sale of small business stock, Exclusion, Rollover
• Schedule, A
• Schedule, B
• Schedule, K, K-1
• Schedule, L
• Schedule, M-1
• Schedule, M-2
• Section 179 expense deduction
• Section 59(e) expenditures
• Section 59(e) expenditures
• Section 59(e) expenditures
• Section 59(e) expenditures
• Section 59(e) expenditures
• Section 59(e) expenditures
• Self-employment
• Separately stated items
• Signature
• Special allocations
• Substitute forms
• Syndication costs

T

• Tax shelter, Registration
• Tax shelter, Registration number
• Termination of partnership

U

• Uniform capitalization rules
• Unrecaptured section 1250 gain

W

• When to file
• Where to file
• Who must file

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