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 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
Stan earned his bachelor’s degree in Business Administration from California State University, Northridge in 1980. He now runs a two-office tax, accounting and consulting practice in Oakland and San Francisco, California. The practice focuses on high net worth individuals and small businesses, providing quality, personalized financial and tax guidance. Stan has taught continuing education courses to practitioners throughout the country on a regular basis for over 10 years. Stan has been a regular guest on a local radio talk show discussing taxes and has been quoted several times in local papers. He previously taught accounting courses in junior colleges in Southern California.
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