Filing Your Partnership Taxes doesn't
have to be stressful
Stay highly organized with our interactive section-by-section breakdown. Gather correct documentation, track critical partnership distributions, and submit seamlessly.
The Deadline to File Your Partnership Form or request a
Tax Extension is MARCH 15, 2027
Section 01
Basic Information
Verify Your Business Filing Type
Ensure your business entity type is registered with the IRS (Form 1065, 1120, or 1120S). Not sure? Call the IRS Business Help Line: 1-800-829-4933
Employer Identification Number (EIN)
Have your EIN handy. If you need a new one, apply online at IRS.gov
State Reporting Details
Gather state and local ID numbers for every location where your business has a tax obligation/nexus
Organizational Documents
Gather state and local ID numbers for every location where your business has a tax obligation/nexus
Previous Tax Returns
Locate your prior year's Form K-1s, and locate returns for reference while completing Form 1065
Estimated Tax Payments
List all partnership-level federal state and local taxes during the year, including dates and amounts
Section 02
Partner Information
Partner Details
Collect names, addresses, and SSNs or EINs for all partners active during the tax year
Ownership & Profit Details
List each partner's percentage and share of profits or losses for accurate Form 1065 filing
Financial Activity Reports
Financial activity reports including addresses, compensation, or benefit procedures and tax items
Ownership Changes
Document any changes in partner ownership, including entry or exit dates, for inclusion in Form 1065
Section 03
Documents Received
Quarterly Tax Forms
Gather all received forms such as 1099-INT, 1099-MISC, 1099-DIV, 1099-R, and 1099-NEC
Ownership & Profit Details
List all earnings/payments and each partner's share of profits or losses for accurate Form 1065 filing
Schedule K-1
Review any Schedule K-1 forms for known partner business income
Credit Certificates
Collect any credit certificates issued by federal or state agencies
Section 04
Business and Financial Records
Accounting Records
Run a P&L report/balance sheet from your accounting software (QuickBooks Online)
Bank and Credit Card Statements
Review statements to validate business expenses and interest payments for Form 1065
Payroll Reports
Copies of issued Forms W-2 and W-3, including 940 and 941/944 returns, plus copies of prior and current payroll taxes paid
Multi-State Activity
For partners in multiple states, compile reports showing sales, payroll, and property values to state
Business Registrations
Record the cost of goods/materials bought for resale or production and the year-end value of inventory
Section 05
Asset Records
Depreciation Schedules
List asset details such as cost, purchase date, prior depreciation, and bonus/section 179 percentage
Log Purchases
Log purchases made during the year, including costs and dates of service
Disposed Assets
Detail sales proceeds, trade-in values, expenses of sale, and accumulated depreciation for assets sold or traded
Vehicle Mileage Log
Provide a mileage log for any business-owned or employee-use vehicles, including parking/tolls/insurance and total mileage
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