IRS Form 1065-B, U.S. Return of Income for Electing Large Partnerships, is a document used to report to the Internal Revenue Service (IRS) the gains, losses, income, deductions, and other information from the electing large partnership's operation.
To comply with the IRS 1065-B Form filing requirements, you must file it with certain schedules. Schedule F (Profit or Loss from Farming) must be filed if the partnership is engaged in the business of farming. Schedule K-1 (Partner's Share of Income, Deductions, Credits, Etc.) is used to report each partner's separate share of the partnership's income, deductions, and credits.
The latest version of the form was released by the IRS in 2017 with all previous editions obsolete. A fillable 1065-B Form is available for download below.
IRS Form 1065, U.S. Return of Partnership Income, is the main form in the IRS 1065 Form series used by the IRS to receive information on income, credits, deductions, gains, losses, and other data connected to the operation of the partnership.
IRS Form 1065X, Amended Return or Administrative Adjustment Request (AAR), is a form used to correct information on Form 1065, Form 1065-B, or Form 1066, U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return, that were already filed. If you wish, you can make an AAR to change the disclosure of the items regarding the partnership.