1065 Preparation and Planning 1: Tax Fundamentals (2018 Edition)
Authored by Barbara Weltman, Sidney Kess
About this Course
Topics discussed include: the Nature of form 1065; Definitions related to Partnerships and Limited Liability Companies (LLCs); Check-the-box regulations
Filing rules; Completing the information section of Form 1065
Upon completing this course, you should be able to: Explain the conduit theory of taxation and the operation of the check-the-box regulations; Identify the filing requirements for Form 1065 including due dates and who is the person responsible for filing as well as electronic filing options;
Complete the information required on the top of page 1 of Form 1065 and Schedule B, page 2 of Form 1065; Describe accounting method and tax year restrictions.
Prepare a Form 1065 including Schedules K-1 and M-3