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What is Form 1065, U.S. Return of Partnership Income?

SOLVEDby TurboTax1489Updated April 15, 2022

Form 1065 is an information return used to report the income, gains, losses, deductions, credits, etc., from the operation of a partnership. A partnership doesn't 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, 2022 (September 15, 2022 with extension) for 2021 tax returns.

You can file Form 1065 using TurboTax Business.

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.

Go here for instructions on entering your Schedule K-1 for your individual tax return.

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