1065 - Understanding Partnerships Tax Returns WEBCAST

Overview

Form 1065 is the tax return filed by partnerships, which is one of the most common forms of business organizations in the United States. This course provides an in-depth understanding of the preparation and filing of Form 1065. The course will cover the basics of partnership taxation, including how partnerships are taxed, the different types of partnerships, and the tax obligations of partners. It will also discuss the importance of keeping accurate financial records, the role of the partnership agreement in tax reporting, and the filing deadlines for Form 1065. Participants will gain a comprehensive understanding of the various sections of Form 1065, including the Schedule K-1, which reports each partner’s share of the partnership’s income, deductions, and credits. The course will also cover how to report partnership income, expenses, and deductions, as well as the tax implications of buying and selling partnership interests. In addition, the course will provide an overview of common errors and omissions made when preparing Form 1065, and how to avoid them. It will also cover recent changes in tax laws that affect partnership taxation.

Highlights

Partnership taxation. Different types of partnerships. Tax obligations of partners. Role of the partnership agreement in tax reporting. Filing deadlines of Form 1065.

Prerequisites

None.

Designed For

CPAs, EAs, and financial professionals.

Objectives

Discuss partnership taxation. Prepare and file Form 1065 with confidence.

Preparation

None.

Notice

None.