Preparing Form 1065
Learning objectives
After completing this course, the learner should be able to:
- Recognize the basic concepts of partnership taxation
- Determine Form 1065, U.S. Return of Partnership Income, filing requirements
- Recognize how to reconcile income or loss per the Income Statement to Form 1065 and related schedules
- Recognize how to report trade or business income, rental income, and the partner's share of distributive items on Form 1065 and related schedules and forms
- Identify the purpose of Schedule K-1
- Recognize how to maintain and report capital balances and how to report on a tax basis
- Recognize how to allocate income/loss, expense/deduction items, as well as recourse and nonrecourse debt to partners
A Becker Professional Education is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Becker Professional Education Sponsor I.D. Numbers NASBA: 107294, New York: 002087, New Jersey: 20CE00226700, Texas: 009580, Ohio: CPE.186, Illinois 158.002405, Pennsylvania: PX177823