Preparing Form 1065
After completing this course, the learner should be able to:
- Recognize the basic concepts of partnership taxation
- Determine Form 1065, U.S. Return of Partnership Income, filing requirements
- Recognize how to reconcile income or loss per the Income Statement to Form 1065 and related schedules
- Recognize how to report trade or business income, rental income, and the partner's share of distributive items on Form 1065 and related schedules and forms
- Identify the purpose of Schedule K-1
- Recognize how to maintain and report capital balances and how to report on a tax basis
- Recognize how to allocate income/loss, expense/deduction items, as well as recourse and nonrecourse debt to partners
Instructor bio
Stephanie Morris has twenty years of experience teaching financial, managerial, governmental/not for profit, and tax accounting as a Senior Lecturer of Accounting. In 2016 and 2024, she was awarded the Distinguished Faculty Award. She was also selected as a member of the 2024 All-Southern Conference Faculty Team. She serves as the faculty advisor for Beta Alpha Psi. Stephanie is a Certified Public Accountant and works as a Subject Matter Expert in the area of taxation for Becker Education. Stephanie earned a Master of Accountancy with a focus in taxation from the University of Georgia and a Bachelor of Business Administration in Accounting from Mercer University, both summa cum laude. She is a member of the Georgia Society of CPAs. In the community, Stephanie serves on the board of the Georgia Industrial Children’s Home Foundation.
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Becker Professional Education Sponsor I.D. Numbers NASBA: 107294, New York: 002087, New Jersey: 20CE00226700, Texas: 009580, Ohio: CPE.186, Illinois 158.002405, Pennsylvania: PX177823