Form 1065 - Jan 2023

Form 1065 is used by partnerships to report their income, gains, losses, deductions, credits, and to figure out their tax liability. Partnerships must file an annual return to report the income, deductions, gains, losses, etc., from its operations, but it does not pay income tax. Instead, it passes through any profits or losses to its partners. Partners are then responsible for paying income tax on their share of the partnership income.

Partnerships.

The completed Form 1065 should be filed with the Internal Revenue Service Center where the corporation or trust files its income tax return.