Form 1065

Form 1065 is an annual tax return used by partnerships, limited liability companies (LLCs), and other entities that are not corporations. The form is used to report the income, deductions, and credits of the entity.

The partnership or LLC must file Form 1065 even if it does not have any income or losses. The form must be filed by the 15th day of the third month following the end of the tax year.

Form 1065 is a complex form, and it is important to have a qualified tax professional prepare it. The form includes a number of schedules that must be completed in order to calculate the entity's income and taxes.

The most important schedule on Form 1065 is Schedule K-1. This schedule provides information about the entity's income, deductions, and credits to the partners or LLC members. The partners or members use this information to prepare their individual income tax returns.

Form 1065 is an important tax document, and it is important to file it correctly and on time. If you have any questions about Form 1065, you should consult with a qualified tax professional.

Here are some additional details about Form 1065:

• The form is filed with the Internal Revenue Service (IRS).
• The form is available on the IRS website.
• The form can be filed electronically or by mail.
• The form has a number of instructions that must be followed.
• The form must be signed by the partnership or LLC's manager or other authorized person.

If you have any questions about Form 1065, you should consult with a qualified tax professional.