Instructions for Form 1065, U.S. Return of Partnership Income Revision Date 01/14/2022

• Legal Form Number: 1065
• Issuer: Treasury Department
• Section: Treasury Department

Form 1065

2023

U.S. Return of Partnership Income

Department of the Treasury

Internal Revenue Service

Go to www.irs.gov/Form1065 for instructions and the latest information.

OMB No. 1545-0123

For calendar year 2023, or tax year beginning , 2023, ending , 20 .

Type

or

Print

Name of partnership

Number, street, and room or suite no. If a P.O. box, see instructions.

City or town, state or province, country, and ZIP or foreign postal code

A

Principal business activity

B

Principal product or service

C Business code number

D

Employer identification number

E Date business started

F Total assets

(see instructions)

$

G Check applicable boxes: (1) Initial return (2) Final return (3) Name change (4) Address change (5) Amended return

H

Check accounting method:

(1) Cash (2) Accrual (3) Other (specify):

I Number of Schedules K-1. Attach one for each person who was a partner at any time during the tax year:

J Check if Schedules C and M-3 are attached . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

K

Check if partnership:

(1)

Aggregated activities for section 465 at-risk purposes

(2)

Grouped activities for section 469 passive activity purposes

Caution: Include only trade or business income and expenses on lines 1a through 23 below. See instructions for more information.

Income

1a

Gross receipts or sales

b

Less returns and allowances

cBalance 1c

2 Cost of goods sold (attach Form 1125-A) . . . . . . . . . . . . . . . . . . 2

3 Gross profit. Subtract line 2 from line 1c . . . . . . . . . . . . . . . . . . . 3

4 Ordinary income (loss) from other partnerships, estates, and trusts (attach statement) . . . . 4

5 Net farm profit (loss) (attach Schedule F (Form 1040)) . . . . . . . . . . . . . . 5

6 Net gain (loss) from Form 4797, Part II, line 17 (attach Form 4797) . . . . . . . . . . 6

7 Other income (loss) (attach statement) . . . . . . . . . . . . . . . . . . . 7

8 Total income (loss). Combine lines 3 through 7 . . . . . . . . . . . . . . . . 8

Deductions

(see instructions for limitations)

9 Salaries and wages (other than to partners) (less employment credits) . . . . . . . . . 9

10 Guaranteed payments to partners . . . . . . . . . . . . . . . . . . . . . 10

11 Repairs and maintenance . . . . . . . . . . . . . . . . . . . . . . . . 11

12 Bad debts ............................. 12

13 Rent ............................... 13

14 Taxes and licenses .......................... 14

15 Interest (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . 15

16a Depreciation (if required, attach Form 4562) .......... 16a

b Less depreciation reported on Form 1125-A and elsewhere on return . 16b 16c

17 Depletion (Do not deduct oil and gas depletion.) ............... 17

18 Retirement plans, etc. . . . . . . . . . . . . . . . . . . . . . . . . . 18

19 Employee benefit programs . . . . . . . . . . . . . . . . . . . . . . . 19

20 Energy efficient commercial buildings deduction (attach Form 7205) .......... 20

21 Other deductions (attach statement) .................... 21

22 Total deductions. Add the amounts shown in the far right column for lines 9 through 21 . . . 22

23 Ordinary business income (loss). Subtract line 22 from line 8 . . . . . . . . . . . 23

Tax and Payment

24 Interest due under the look-back method—completed long-term contracts (attach Form 8697) . 24

25 Interest due under the look-back method—income forecast method (attach Form 8866) ... 25

26 BBA AAR imputed underpayment (see instructions) . . . . . . . . . . . . . . . 26

27 Other taxes (see instructions) . . . . . . . . . . . . . . . . . . . . . . 27

28 Total balance due. Add lines 24 through 27 ................. 28

29 Elective payment election amount from Form 3800 ............... 29

30 Payment (see instructions) . . . . . . . . . . . . . . . . . . . . . . . 30

31 Amount owed. If the sum of line 29 and line 30 is smaller than line 28, enter amount owed . . 31

32 Overpayment. If the sum of line 29 and line 30 is larger than line 28, enter overpayment . . . 32

Sign

Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge

and belief, it is true, correct, and complete. Declaration of preparer (other than partner or limited liability company member) is based on all information of

which preparer has any knowledge.

Signature of partner or limited liability company member Date

May the IRS discuss this return

with the preparer shown below?

See instructions.

Yes No

Paid

Preparer

Use Only

Print/Type preparer’s name Preparer’s signature Date Check if

self-employed

PTIN

Firm’s name Firm’s EIN

Firm’s address Phone no.

For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 11390Z Form 1065 (2023)