Form 1065: Partnership Tax Return
Form 1065 is the U.S. Return of Partnership Income. Partnerships and multi-member LLCs file this form to report income that passes through to individual partners via Schedule K-1. Real estate investment partnerships commonly use this structure.
Real Estate Applications
- Real estate investment partnerships
- Property development joint ventures
- Multi-member LLC property holdings
- Partnership acquisitions and dispositions
Pass-Through Taxation
- Partnership does not pay income tax
- Income and losses pass through to partners
- Each partner receives Schedule K-1
- Partners report on Form 1040, Schedule E
Filing Requirements
- Due date: March 15 (6-month extension available)
- Penalty: $10 per partner per month for late filing
- Required schedules: Balance sheet (L), income reconciliation (M-1/M-3)
- E-file required: Partnerships with 100+ partners
Related Terms
- Contract — Partnership agreements
- Equity — Partner capital accounts
- Estate Planning — Partnership interests in estates
Barnes Walker Business Law
Barnes Walker's attorneys structure real estate partnerships and advise on partnership tax obligations in Florida. Request a legal inquiry for assistance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC