Topics covered include: Completing the income section of Form 1065, which reflects trade or business income; Ordinary business income; Cost of goods sold; Form 1125-A; Form 4797; Completing the deductions section of Form 1065. Upon completing this course, you should be able to: Compute the cost of goods sold; Report income from sales of business property; Identify other income included in trade or business income; Enter deductions on Form 1065 in the space provided; Determine the types of other deductions taken into account in figuring trade or business income.