The due date for partnership returns was changed for 2016 returns due in 2017.
The due date changes with the most impact will likely be those changes for Partnership tax returns (Form 1065) and C Corporation tax returns (Form 1120). Essentially the due dates have swapped, with Partnership returns due March 15th and C Corporation returns due April 18th. The significant reorganization of due dates is intended to assist individuals involved in pass-through entities in receiving information required to prepare their individual returns in a more timely fashion.
Form 1065 is an information return used to report the income, gains, losses, deductions, credits, etc., from the operation of a partnership. A partnership does not pay tax on its income but “passes through” any profits or losses to its partners on a Schedule K-1.
Due Dates for Form 1065 are: March 15, 2017 (September 15 with extension) for 2016 tax returns.
If you are a partner in a partnership, the information you need to prepare your individual tax return is on the Schedule K-1 you received from the partnership, not on Form 1065. K-1s can be complicated forms with lots of lines, but TurboTax asks about the data you need to enter.
For instructions on entering your Schedule K-1 for your individual tax return, see Related Information below.
