Form 1065

A tax document used to report the profits, losses and deductions of a business' partners. Form 1065 is part of the Schedule K-1 document, and is prepared for each individual partner. The document identifies the percentage share of profit and loss assigned to each partner, both at the beginning of the reporting period and at the end.

All profits and losses from a partnership are passed directly to the partners; the partnership never pays any taxes itself. Organizations that are exempt from paying income taxes, such as religious organizations, have to fill out Form 1065 as well.


Investment dictionary. . 2012.

Look at other dictionaries:

  • Form 1120S — A tax document used to report the income, losses and dividends of S corporation shareholders; it is an S corporation s tax return. Form 1120S is part of the Schedule K 1 document. It is prepared for each individual shareholder and identifies the… …   Investment dictionary

  • Armenia — • A mountainous region of Western Asia occupying a somewhat indefinite area to the southeast of the Black Sea Catholic Encyclopedia. Kevin Knight. 2006. Armenia     Armenia      …   Catholic encyclopedia

  • tufftriding — a form of surface hardening, the process involves nitrogen but does not achieve the hardness of conventional nitriding …   Mechanics glossary

  • amorin — s ( en, er) kärleksgud i form av en barngestalt med vingar …   Clue 9 Svensk Ordbok

  • castle — [11] Castle was one of the first words borrowed by the English from their Norman conquerors: it is mentioned in the Anglo Saxon chronicle only nine years after the battle of Hastings. It comes via Anglo Norman castel from Latin castellum, a… …   Word origins

  • Tax forms in the United States — are used by taxpayers and tax exempt organizations to report financial information to the Internal Revenue Service (IRS). They are used to report income and calculate taxes owed to the government of the United States. TOC Federal tax forms 990… …   Wikipedia

  • Schedule K-1 — A tax document used to report the incomes, losses and dividends of a business s partners or S corporation s shareholders. Rather than being a financial summary for the entire group, the Schedule K 1 document is prepared for each partner or… …   Investment dictionary

  • Tax return (United States) — Tax returns in the United States are reports filed with the Internal Revenue Service (IRS) or with the state or local tax collection agency (California Franchise Tax Board, for example) containing information used to calculate income tax or other …   Wikipedia

  • Limited liability company — This article is about a U.S. specific business entity form. For limited liability companies in the United Kingdom, see Limited company. For a general discussion of entities with limited liability, see Corporation …   Wikipedia

  • Tax deduction — This article is about the deduction of expenses for the purpose of calculating taxable income. For tax deducted at source, see Withholding tax. Taxation An aspect of fiscal policy …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.