IRS Form 1065 "U.S. Return of Partnership Income"

What Is Form 1065?

IRS Form 1065, U.S. Return of Partnership Income, also known as the partnership tax return form, is a document used by the Internal Revenue Service (IRS) to obtain information on income, credits, deductions, gains, losses, and other data related to the operation of the partnership.

The latest version of the form was released by the IRS in 2019 with all previous editions obsolete. A fillable partnership return form is available for download below.

What Is Form 1065 Used for?

IRS Form 1065 is used by partnerships to report their financial information to the IRS. A partnership can be defined as the business or trade relationship between two or more people who want to work together, invest and contribute skills, money, labor, and property and aim to share in the gains and losses of the business. The process of reporting includes two steps. First, with Tax Form 1065, the partnership reports financial information relating to the operation of the partnership. Second, every partner must prepare a Schedule K-1 to identify personal profits and losses over the course of the partnership's operation.

ADVERTISEMENT

What Is the Difference Between Form 1065 and 1120?

IRS Form 1120, U.S. Corporation Income Tax Return is used to report gains, losses, income, credits, deductions and to show the income tax liability of the corporation. The limited liability company must file this form if it is a corporation. You can use Form 8832, Entity Classification Election to elect how your entity will be classified for federal tax purposes - as a corporation, a partnership, or an entity disregarded as separate from its owner.

IRS Form 1065 Schedules

To comply with the IRS 1065 Form filing requirements, you must file it with certain schedules:

IRS Form 1065 Instructions

  1. Identify the principal business activity, the principal product or service, and the business code number. State the name of the partnership and its address. Write down the employer identification number, the date the business started, and the total assets. Choose the type of return and the accounting method. Attach appropriate schedules.
  2. State the income, deductions, tax, and payment.
  3. Sign and date the form.
  4. Schedule B (Other Information). Answer questions with either «yes» or «no», and describe the type of entity.
  5. Schedule K (Partners' Distributive Share Items). State the total amount of income (loss), deductions, self-employment, credits, foreign transactions, alternative minimum tax items, etc., and provide the analysis of the net income (loss).
  6. Schedule L (Balance Sheets per Books). Indicate the assets, liabilities, and capital.
  7. Schedule M-1 (Reconciliation of Income (Loss) per Books with Income (Loss) per Return. State the net income, guaranteed payments, tax-exempt interest, etc..
  8. Schedule M-2 (Analysis of Partners' Capital Accounts). Provide information about the balance and capital of the partnership.

How to File Form 1065?

IRS tax form 1065 is filed by the fifteenth day of the third month following the date its tax year ended. However, IRS form 1065 due dates can be extended if you file Form 7004. The late filing penalty is $210 for each month or part of the month the failure continues multiplied by the number of partners.

The 1065 return mailing addresses are the following:

  1. If the partnership is located in Connecticut, Delaware, District of Columbia, Georgia, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia, or Wisconsin and:
    • Total assets are less than $10 million and you did not file Schedule M-3, send the form to the IRS Center Kansas City, MO 64999-0011;
    • Total assets are $10 million or more or you filed Schedule M-3 - IRS Center Ogden, UT 84201-0011;
  2. If the partnership is located in Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Hawaii, Idaho, Iowa, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Texas, Utah, Washington, or Wyoming IRS Center Ogden, UT 84201-0011;
  3. If the partnership is located in a foreign country or U.S. possession - IRS PO Box 409101 Ogden, UT 84409.
  4. Partnerships with more than 100 partners must file the form and related schedules electronically unless they submit bankruptcy returns or returns with pre-computed interest and penalty.

IRS 1065 Related Forms:

  • IRS Form 1065-B, U.S. Return of Income for Electing Large Partnerships is a related document used to report to the IRS the gains, losses, deductions, income, and other details on the electing large partnership's operation. An electing large partnership can be defined as any partnership that had 100 or more partners in the preceding year and chose the application of this status, and as a result, an ELP chooses to file this form instead of IRS Form 1065;
  • IRS Form 1065-X, Amended Return or Administrative Adjustment Request (AAR) is a related form needed to amend items on the previously filed Form 1065, Form 1065-B, or Form 1066, U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return. You can also make an AAR change the disclosure of the items relating to the partnership.
ADVERTISEMENT

Download IRS Form 1065 "U.S. Return of Partnership Income"

1477 times
Rate (4.7 / 5) 73 votes
1065
U.S. Return of Partnership Income
OMB No. 1545-0123
Form
2019
For calendar year 2019, or tax year beginning
, 2019, ending
, 20
.
Department of the Treasury
Go to www.irs.gov/Form1065 for instructions and the latest information.
Internal Revenue Service
A Principal business activity
D
Name of partnership
Employer identification number
B Principal product or service
Number, street, and room or suite no. If a P.O. box, see instructions.
E Date business started
Type
or
Print
C Business code number
City or town, state or province, country, and ZIP or foreign postal code
F Total assets
(see instructions)
$
(1)
(2)
(3)
(4)
(5)
G Check applicable boxes:
Initial return
Final return
Name change
Address change
Amended return
(1)
(2)
(3)
H Check accounting method:
Cash
Accrual
Other (specify)
I
Number of Schedules K-1. Attach one for each person who was a partner at any time during the tax year
J
Check if Schedules C and M-3 are attached
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
K Check if partnership:
(1)
(2)
Aggregated activities for section 465 at-risk purposes
Grouped activities for section 469 passive activity purposes
Caution: Include only trade or business income and expenses on lines 1a through 22 below. See instructions for more information.
1a Gross receipts or sales .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
1a
b Returns and allowances .
1b
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
c Balance. Subtract line 1b from line 1a .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
1c
2
Cost of goods sold (attach Form 1125-A)
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
2
3
3
Gross profit. Subtract line 2 from line 1c .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
4
Ordinary income (loss) from other partnerships, estates, and trusts (attach statement) .
.
.
.
4
5
Net farm profit (loss) (attach Schedule F (Form 1040 or 1040-SR))
.
.
.
.
.
.
.
.
.
.
5
6
6
Net gain (loss) from Form 4797, Part II, line 17 (attach Form 4797)
.
.
.
.
.
.
.
.
.
.
7
Other income (loss) (attach statement)
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
7
8
Total income (loss). Combine lines 3 through 7 .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
8
9
Salaries and wages (other than to partners) (less employment credits) .
.
.
.
.
.
.
.
.
9
10
10
Guaranteed payments to partners .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
11
Repairs and maintenance .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
11
12
Bad debts .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
12
13
13
Rent .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
14
Taxes and licenses .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
14
15
Interest (see instructions) .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
15
16a Depreciation (if required, attach Form 4562) .
16a
.
.
.
.
.
.
.
.
.
b Less depreciation reported on Form 1125-A and elsewhere on return
.
16b
16c
17
Depletion (Do not deduct oil and gas depletion.)
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
17
18
Retirement plans, etc. .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
18
19
19
Employee benefit programs .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
20
Other deductions (attach statement) .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
20
21
Total deductions. Add the amounts shown in the far right column for lines 9 through 20 .
.
.
21
22
Ordinary business income (loss). Subtract line 21 from line 8
.
.
.
.
.
.
.
.
.
.
.
22
23
Interest due under the look-back method—completed long-term contracts (attach Form 8697) .
23
24
Interest due under the look-back method—income forecast method (attach Form 8866) .
.
.
24
25
25
BBA AAR imputed underpayment (see instructions) .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
26
Other taxes (see instructions)
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
26
27
Total balance due. Add lines 23 through 26
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
27
28
28
Payment (see instructions)
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
29
Amount owed. If line 28 is smaller than line 27, enter amount owed .
29
.
.
.
.
.
.
.
.
.
30
Overpayment. If line 28 is larger than line 27, enter overpayment
.
.
.
.
.
.
.
.
.
.
30
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge
and belief, it is true, correct, and complete. Declaration of preparer (other than partner or limited liability company member) is based on all information of
Sign
which preparer has any knowledge.
May the IRS discuss this return
Here
with the preparer shown below?
See instructions.
Yes
No
Signature of partner or limited liability company member
Date
Print/Type preparer’s name
Preparer’s signature
Date
PTIN
Paid
Check
if
self-employed
Preparer
Firm’s name
Firm’s EIN
Use Only
Firm’s address
Phone no.
1065
For Paperwork Reduction Act Notice, see separate instructions.
Cat. No. 11390Z
Form
(2019)
1065
U.S. Return of Partnership Income
OMB No. 1545-0123
Form
2019
For calendar year 2019, or tax year beginning
, 2019, ending
, 20
.
Department of the Treasury
Go to www.irs.gov/Form1065 for instructions and the latest information.
Internal Revenue Service
A Principal business activity
D
Name of partnership
Employer identification number
B Principal product or service
Number, street, and room or suite no. If a P.O. box, see instructions.
E Date business started
Type
or
Print
C Business code number
City or town, state or province, country, and ZIP or foreign postal code
F Total assets
(see instructions)
$
(1)
(2)
(3)
(4)
(5)
G Check applicable boxes:
Initial return
Final return
Name change
Address change
Amended return
(1)
(2)
(3)
H Check accounting method:
Cash
Accrual
Other (specify)
I
Number of Schedules K-1. Attach one for each person who was a partner at any time during the tax year
J
Check if Schedules C and M-3 are attached
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
K Check if partnership:
(1)
(2)
Aggregated activities for section 465 at-risk purposes
Grouped activities for section 469 passive activity purposes
Caution: Include only trade or business income and expenses on lines 1a through 22 below. See instructions for more information.
1a Gross receipts or sales .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
1a
b Returns and allowances .
1b
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
c Balance. Subtract line 1b from line 1a .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
1c
2
Cost of goods sold (attach Form 1125-A)
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
2
3
3
Gross profit. Subtract line 2 from line 1c .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
4
Ordinary income (loss) from other partnerships, estates, and trusts (attach statement) .
.
.
.
4
5
Net farm profit (loss) (attach Schedule F (Form 1040 or 1040-SR))
.
.
.
.
.
.
.
.
.
.
5
6
6
Net gain (loss) from Form 4797, Part II, line 17 (attach Form 4797)
.
.
.
.
.
.
.
.
.
.
7
Other income (loss) (attach statement)
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
7
8
Total income (loss). Combine lines 3 through 7 .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
8
9
Salaries and wages (other than to partners) (less employment credits) .
.
.
.
.
.
.
.
.
9
10
10
Guaranteed payments to partners .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
11
Repairs and maintenance .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
11
12
Bad debts .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
12
13
13
Rent .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
14
Taxes and licenses .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
14
15
Interest (see instructions) .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
15
16a Depreciation (if required, attach Form 4562) .
16a
.
.
.
.
.
.
.
.
.
b Less depreciation reported on Form 1125-A and elsewhere on return
.
16b
16c
17
Depletion (Do not deduct oil and gas depletion.)
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
17
18
Retirement plans, etc. .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
18
19
19
Employee benefit programs .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
20
Other deductions (attach statement) .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
20
21
Total deductions. Add the amounts shown in the far right column for lines 9 through 20 .
.
.
21
22
Ordinary business income (loss). Subtract line 21 from line 8
.
.
.
.
.
.
.
.
.
.
.
22
23
Interest due under the look-back method—completed long-term contracts (attach Form 8697) .
23
24
Interest due under the look-back method—income forecast method (attach Form 8866) .
.
.
24
25
25
BBA AAR imputed underpayment (see instructions) .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
26
Other taxes (see instructions)
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
26
27
Total balance due. Add lines 23 through 26
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
27
28
28
Payment (see instructions)
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
29
Amount owed. If line 28 is smaller than line 27, enter amount owed .
29
.
.
.
.
.
.
.
.
.
30
Overpayment. If line 28 is larger than line 27, enter overpayment
.
.
.
.
.
.
.
.
.
.
30
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge
and belief, it is true, correct, and complete. Declaration of preparer (other than partner or limited liability company member) is based on all information of
Sign
which preparer has any knowledge.
May the IRS discuss this return
Here
with the preparer shown below?
See instructions.
Yes
No
Signature of partner or limited liability company member
Date
Print/Type preparer’s name
Preparer’s signature
Date
PTIN
Paid
Check
if
self-employed
Preparer
Firm’s name
Firm’s EIN
Use Only
Firm’s address
Phone no.
1065
For Paperwork Reduction Act Notice, see separate instructions.
Cat. No. 11390Z
Form
(2019)
2
Form 1065 (2019)
Page
Schedule B
Other Information
1
What type of entity is filing this return? Check the applicable box:
Yes
No
a
Domestic general partnership
b
Domestic limited partnership
c
d
Domestic limited liability company
Domestic limited liability partnership
e
f
Foreign partnership
Other
2
At the end of the tax year:
a Did any foreign or domestic corporation, partnership (including any entity treated as a partnership), trust, or tax-
exempt organization, or any foreign government own, directly or indirectly, an interest of 50% or more in the profit,
loss, or capital of the partnership? For rules of constructive ownership, see instructions. If “Yes,” attach Schedule
B-1, Information on Partners Owning 50% or More of the Partnership .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
b Did any individual or estate own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital of
the partnership? For rules of constructive ownership, see instructions. If “Yes,” attach Schedule B-1, Information
on Partners Owning 50% or More of the Partnership
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
3
At the end of the tax year, did the partnership:
a Own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of
stock entitled to vote of any foreign or domestic corporation? For rules of constructive ownership, see instructions.
If “Yes,” complete (i) through (iv) below .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
(i) Name of Corporation
(ii) Employer Identification
(iii) Country of
(iv) Percentage
Owned in Voting Stock
Number (if any)
Incorporation
b Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss,
or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial
interest of a trust? For rules of constructive ownership, see instructions. If “Yes,” complete (i) through (v) below .
.
(ii) Employer
(v) Maximum
(i) Name of Entity
(iii) Type of
(iv) Country of
Identification
Percentage Owned in
Entity
Organization
Number (if any)
Profit, Loss, or Capital
4
Does the partnership satisfy all four of the following conditions?
Yes
No
a The partnership’s total receipts for the tax year were less than $250,000.
b The partnership’s total assets at the end of the tax year were less than $1 million.
c Schedules K-1 are filed with the return and furnished to the partners on or before the due date (including
extensions) for the partnership return.
d The partnership is not filing and is not required to file Schedule M-3
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
If “Yes,” the partnership is not required to complete Schedules L, M-1, and M-2; item F on page 1 of Form 1065;
or item L on Schedule K-1.
5
Is this partnership a publicly traded partnership, as defined in section 469(k)(2)?
.
.
.
.
.
.
.
.
.
.
.
6
During the tax year, did the partnership have any debt that was canceled, was forgiven, or had the terms modified
so as to reduce the principal amount of the debt?
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
7
Has this partnership filed, or is it required to file, Form 8918, Material Advisor Disclosure Statement, to provide
information on any reportable transaction? .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
8
At any time during calendar year 2019, did the partnership have an interest in or a signature or other authority over
a financial account in a foreign country (such as a bank account, securities account, or other financial account)?
See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and
Financial Accounts (FBAR). If “Yes,” enter the name of the foreign country
9
At any time during the tax year, did the partnership receive a distribution from, or was it the grantor of, or
transferor to, a foreign trust? If “Yes,” the partnership may have to file Form 3520, Annual Return To Report
Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts. See instructions .
.
.
.
.
.
.
.
.
10a Is the partnership making, or had it previously made (and not revoked), a section 754 election?
.
.
.
.
.
.
See instructions for details regarding a section 754 election.
b Did the partnership make for this tax year an optional basis adjustment under section 743(b) or 734(b)? If “Yes,”
attach a statement showing the computation and allocation of the basis adjustment. See instructions
.
.
.
.
1065
Form
(2019)
3
Form 1065 (2019)
Page
Schedule B
Other Information (continued)
Yes
No
c Is the partnership required to adjust the basis of partnership assets under section 743(b) or 734(b) because of a
substantial built-in loss (as defined under section 743(d)) or substantial basis reduction (as defined under section
734(d))? If “Yes,” attach a statement showing the computation and allocation of the basis adjustment. See
instructions .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
11
Check this box if, during the current or prior tax year, the partnership distributed any property received in a like-
kind exchange or contributed such property to another entity (other than disregarded entities wholly owned by the
partnership throughout the tax year) .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
12
At any time during the tax year, did the partnership distribute to any partner a tenancy-in-common or other
undivided interest in partnership property? .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
13
If the partnership is required to file Form 8858, Information Return of U.S. Persons With Respect To Foreign
Disregarded Entities (FDEs) and Foreign Branches (FBs), enter the number of Forms 8858 attached. See
instructions .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Does the partnership have any foreign partners? If “Yes,” enter the number of Forms 8805, Foreign Partner’s
14
Information Statement of Section 1446 Withholding Tax, filed for this partnership .
.
.
15
Enter the number of Forms 8865, Return of U.S. Persons With Respect to Certain Foreign Partnerships, attached
to this return .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
16 a Did you make any payments in 2019 that would require you to file Form(s) 1099? See instructions
.
.
.
.
.
b If “Yes,” did you or will you file required Form(s) 1099? .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
17
Enter the number of Forms 5471, Information Return of U.S. Persons With Respect To Certain Foreign
Corporations, attached to this return .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
18
Enter the number of partners that are foreign governments under section 892
.
.
.
.
19
During the partnership’s tax year, did the partnership make any payments that would require it to file Form 1042
and 1042-S under chapter 3 (sections 1441 through 1464) or chapter 4 (sections 1471 through 1474)? .
.
.
.
20
Was the partnership a specified domestic entity required to file Form 8938 for the tax year? See the Instructions
for Form 8938
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
21
Is the partnership a section 721(c) partnership, as defined in Regulations section 1.721(c)-1T(b)(14)? .
.
.
.
.
22
During the tax year, did the partnership pay or accrue any interest or royalty for which the deduction is not allowed
under section 267A? See instructions
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
If “Yes,” enter the total amount of the disallowed deductions .
.
.
.
.
.
.
.
.
$
23
Did the partnership have an election under section 163(j) for any real property trade or business or any farming
business in effect during the tax year? See instructions .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
24
Does the partnership satisfy one or more of the following? See instructions .
.
.
.
.
.
.
.
.
.
.
.
.
a The partnership owns a pass-through entity with current, or prior year carryover, excess business interest
expense.
b The partnership’s aggregate average annual gross receipts (determined under section 448(c)) for the 3 tax years
preceding the current tax year are more than $26 million and the partnership has business interest.
c The partnership is a tax shelter (see instructions) and the partnership has business interest expense.
If “Yes” to any, complete and attach Form 8990.
25
Is the partnership electing out of the centralized partnership audit regime under section 6221(b)? See instructions.
If “Yes,” the partnership must complete Schedule B-2 (Form 1065). Enter the total from Schedule B-2, Part III,
line 3
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
If “No,” complete Designation of Partnership Representative below.
Designation of Partnership Representative (see instructions)
Enter below the information for the partnership representative (PR) for the tax year covered by this return.
Name of PR
U.S. phone number of
U.S. address of PR
PR
If the PR is an entity, name of the designated individual for the PR
U.S. address of
U.S. phone number of
designated individual
designated individual
26
Is the partnership attaching Form 8996 to certify as a Qualified Opportunity Fund?
.
.
.
.
.
.
.
.
.
.
If “Yes,” enter the amount from Form 8996, line 14 .
.
.
.
.
.
.
.
.
.
.
.
$
Enter the number of foreign partners subject to section 864(c)(8) as a result of transferring all or a portion of an
27
interest in the partnership or of receiving a distribution from the partnership .
.
.
.
.
28
At any time during the tax year, were there any transfers between the partnership and its partners subject to the
disclosure requirements of Regulations section 1.707-8? .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
1065
Form
(2019)
4
Form 1065 (2019)
Page
Schedule K
Partners’ Distributive Share Items
Total amount
1
Ordinary business income (loss) (page 1, line 22)
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
1
2
Net rental real estate income (loss) (attach Form 8825)
.
.
.
.
.
.
.
.
.
.
.
.
.
2
3a Other gross rental income (loss) .
3a
.
.
.
.
.
.
.
.
.
.
.
.
b Expenses from other rental activities (attach statement) .
3b
.
.
.
.
c Other net rental income (loss). Subtract line 3b from line 3a .
.
.
.
.
.
.
.
.
.
.
.
3c
4
Guaranteed payments: a Services
4a
b Capital
4b
c Total. Add lines 4a and 4b .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
4c
5
Interest income
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
5
6
Dividends and dividend equivalents: a Ordinary dividends .
6a
.
.
.
.
.
.
.
.
.
.
.
b Qualified dividends
6b
c Dividend equivalents
6c
7
Royalties
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
7
8
Net short-term capital gain (loss) (attach Schedule D (Form 1065)) .
.
.
.
.
.
.
.
.
.
8
9 a Net long-term capital gain (loss) (attach Schedule D (Form 1065)) .
.
.
.
.
.
.
.
.
.
9a
b Collectibles (28%) gain (loss) .
9b
.
.
.
.
.
.
.
.
.
.
.
.
.
c Unrecaptured section 1250 gain (attach statement)
9c
.
.
.
.
.
.
10
Net section 1231 gain (loss) (attach Form 4797) .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
10
11
Other income (loss) (see instructions)
Type
11
12
Section 179 deduction (attach Form 4562)
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
12
13a Contributions .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
13a
b Investment interest expense .
13b
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
c Section 59(e)(2) expenditures:
(2) Amount
(1) Type
13c(2)
d Other deductions (see instructions)
Type
13d
14a Net earnings (loss) from self-employment .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
14a
b Gross farming or fishing income .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
14b
c Gross nonfarm income .
14c
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
15a Low-income housing credit (section 42(j)(5)) .
15a
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
b Low-income housing credit (other) .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
15b
c Qualified rehabilitation expenditures (rental real estate) (attach Form 3468, if applicable)
.
.
15c
d Other rental real estate credits (see instructions) Type
15d
e Other rental credits (see instructions)
Type
15e
f
Other credits (see instructions) Type
15f
16a Name of country or U.S. possession
b Gross income from all sources
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
16b
c Gross income sourced at partner level .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
16c
Foreign gross income sourced at partnership level
d Reserved for future use
e Foreign branch category
16e
.
.
.
.
.
f
16h
Passive category
General category
h
Other (attach statement)
g
Deductions allocated and apportioned at partner level
i
Other .
.
.
.
.
.
.
.
.
.
.
.
.
.
16j
Interest expense
j
Deductions allocated and apportioned at partnership level to foreign source income
k Reserved for future use
l Foreign branch category
16l
.
.
.
.
.
m Passive category
16o
General category
o
Other (attach statement)
n
p Total foreign taxes (check one):
Paid
Accrued
.
.
.
.
.
.
.
.
.
.
.
16p
q Reduction in taxes available for credit (attach statement) .
.
.
.
.
.
.
.
.
.
.
.
.
16q
r
Other foreign tax information (attach statement)
17a Post-1986 depreciation adjustment .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
17a
b Adjusted gain or loss
17b
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
c Depletion (other than oil and gas)
17c
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
d Oil, gas, and geothermal properties—gross income
.
.
.
.
.
.
.
.
.
.
.
.
.
.
17d
e Oil, gas, and geothermal properties—deductions
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
17e
f
Other AMT items (attach statement) .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
17f
18a Tax-exempt interest income
18a
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
b Other tax-exempt income .
18b
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
c Nondeductible expenses
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
18c
19a Distributions of cash and marketable securities .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
19a
b Distributions of other property
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
19b
20a Investment income
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
20a
b Investment expenses
20b
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
c Other items and amounts (attach statement)
1065
Form
(2019)
5
Form 1065 (2019)
Page
Analysis of Net Income (Loss)
1
Net income (loss). Combine Schedule K, lines 1 through 11. From the result, subtract the sum of
1
Schedule K, lines 12 through 13d, and 16p .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
2
(i) Corporate
(ii) Individual
(iii) Individual
(iv) Partnership
(v) Exempt
(vi)
Analysis by
(active)
(passive)
Organization
Nominee/Other
partner type:
a General partners
b Limited partners
Schedule L
Balance Sheets per Books
Beginning of tax year
End of tax year
(a)
(b)
(c)
(d)
Assets
1
Cash
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
2a Trade notes and accounts receivable .
.
.
.
.
.
b Less allowance for bad debts .
.
.
.
.
.
.
.
3
Inventories
.
.
.
.
.
.
.
.
.
.
.
.
.
.
4
U.S. government obligations
.
.
.
.
.
.
.
.
5
Tax-exempt securities
.
.
.
.
.
.
.
.
.
.
6
Other current assets (attach statement) .
.
.
.
.
7a Loans to partners (or persons related to partners)
.
b Mortgage and real estate loans
.
.
.
.
.
.
.
8
Other investments (attach statement) .
.
.
.
.
.
9a Buildings and other depreciable assets .
.
.
.
.
b Less accumulated depreciation
.
.
.
.
.
.
.
10a Depletable assets .
.
.
.
.
.
.
.
.
.
.
.
b Less accumulated depletion
.
.
.
.
.
.
.
.
11
Land (net of any amortization) .
.
.
.
.
.
.
.
12a Intangible assets (amortizable only)
.
.
.
.
.
.
b Less accumulated amortization
.
.
.
.
.
.
.
13
Other assets (attach statement)
.
.
.
.
.
.
.
14
Total assets .
.
.
.
.
.
.
.
.
.
.
.
.
.
Liabilities and Capital
15
Accounts payable .
.
.
.
.
.
.
.
.
.
.
.
16
Mortgages, notes, bonds payable in less than 1 year
17
Other current liabilities (attach statement)
.
.
.
.
18
All nonrecourse loans .
.
.
.
.
.
.
.
.
.
.
19a Loans from partners (or persons related to partners) .
b Mortgages, notes, bonds payable in 1 year or more .
20
Other liabilities (attach statement) .
.
.
.
.
.
.
21
Partners’ capital accounts
.
.
.
.
.
.
.
.
.
22
Total liabilities and capital
.
.
.
.
.
.
.
.
.
Schedule M-1
Reconciliation of Income (Loss) per Books With Income (Loss) per Return
Note: The partnership may be required to file Schedule M-3. See instructions.
1
Net income (loss) per books .
.
.
.
6
Income recorded on books this year not included
on Schedule K, lines 1 through 11 (itemize):
2
Income included on Schedule K, lines 1, 2, 3c,
a Tax-exempt interest $
5, 6a, 7, 8, 9a, 10, and 11, not recorded on
books this year (itemize):
3
Guaranteed payments (other than health
7
Deductions included on Schedule K, lines
insurance) .
.
.
.
.
.
.
.
.
.
1 through 13d, and 16p, not charged
against book income this year (itemize):
4
Expenses recorded on books this year
a Depreciation $
not included on Schedule K, lines 1
through 13d, and 16p (itemize):
a Depreciation $
8
Add lines 6 and 7 .
.
.
.
.
.
.
.
b Travel and entertainment $
9
Income (loss) (Analysis of Net Income
5
Add lines 1 through 4 .
.
.
.
.
.
(Loss), line 1). Subtract line 8 from line 5
Schedule M-2
Analysis of Partners’ Capital Accounts
1
Balance at beginning of year
.
.
.
6
Distributions: a Cash
.
.
.
.
.
.
2
Capital contributed: a Cash
.
.
.
b Property
.
.
.
.
.
b Property
.
.
7
Other decreases (itemize):
3
Net income (loss) per books .
.
.
.
4
8
Other increases (itemize):
Add lines 6 and 7 .
.
.
.
.
.
.
.
9
5
Add lines 1 through 4 .
.
.
.
.
.
Balance at end of year. Subtract line 8 from line 5
1065
Form
(2019)
Page of 5