Introduction to Partnership:Form 1065 (Currently Unavailable)

Author: Dennis Mowrey

Get a step-by-step instruction on the preparation of Partnership tax returns Form 1065 in this on-demand self study course. This course also includes differences between partnership and other tax structures.

Publication Date: June 2016

Designed For
Those who prepare partnership returns.

Topics Covered

• Covers step by step instructions for Form 1065
• What are partnerships
• Tax filings
• Types of Partnerships
• Partnership Agreements
• How Partnerships are Managed
• Guaranteed Payments
• Filing Partnership Tax Returns
• Terminating a Partnership
• Elections made by the Partnership

Learning Objectives

• Identify the steps of filing Partnership returns
• Recognize tax structures such as C-corps, S-corps, and Limited Liability Companies
• Identify the proper annual tax forms for filing partnership returns
• Differentiate characteristics of a partnership agreement
• Recognize proper partnership formation
• Identify and calculate deductible expenses of a partnership
• Recognize which schedule of Form 1065 to use in various scenarios
• Identify proper tax years to use when filing
• Recognize which material income producing factor is usually required under a family partnership
• Describe which organizations may be treated as partnerships
• Identify class of partners in a limited partnership
• Differentiate and calculate line items on Form 1065
• Recognize the timeline and which items should be reported on a partner's K-1

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None