Form 1065


DEFINITION of '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.

  1. Shareholder

    Any person, company or other institution that owns at least one ...
  2. IRS Publication 541

    A document published by the Internal Revenue Service (IRS) that ...
  3. Form 1120S

    A tax document used to report the income, losses and dividends ...
  4. Schedule K-1

    A tax document used to report the incomes, losses and dividends ...
  5. Partnership

    A business organization in which two or more individuals manage ...
  6. Internal Revenue Service - IRS

    A United States government agency that is responsible for the ...
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