Form 1065, U.S. Return of Partnership Income
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.