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    • Home
    • About Us
    • Personal Taxes
      • 1040 Income Tax Return
      • Schedule A
      • Schedule D
    • Business Taxes
      • Crypto Taxes
      • Limited Liability Company
      • 1065 Partnership Return
      • 1120 S Corporation Return
      • 990 Non Profit Tax Return
      • Real Estate Investment
    • Specialty Taxes
      • Death Tax Return Process
      • 1041 Bankruptcy Taxes
    • Pricing

Signed in as:

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  • Home
  • About Us
  • Personal Taxes
    • 1040 Income Tax Return
    • Schedule A
    • Schedule D
  • Business Taxes
    • Crypto Taxes
    • Limited Liability Company
    • 1065 Partnership Return
    • 1120 S Corporation Return
    • 990 Non Profit Tax Return
    • Real Estate Investment
  • Specialty Taxes
    • Death Tax Return Process
    • 1041 Bankruptcy Taxes
  • Pricing

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Partnership Tax Returns

Partnerships are organizations form with two or more parties. Partnerships can take on several forms,from general partnerships to limited liability partnerships. The most important fact a partnership must have a minimum of 2 people and a maximum of 50.

Partnership Information Return 1065 is due by March 15,2023

How are Taxes Paid in a Partnership?

Partnerships do not pay taxes.  They are considered pass-through entities, meaning the profit will pass through the partnership each partner will receive Form K1.  Each partner uses this form to file his/her taxes.

Do Partners Receive W2's or 1099's?

Partnerships just like sole proprietors do not receive W2's or 1099's.  Partners cannot be employees of the partnership nor a contractor to the partnership.

How are partnerships taxed?

Partners profits are taxed like wage income.  Each partner will pay income taxes and payroll taxes on his/share of the profit.

Three Types of Partnerships

Couples in Business

Couples in Business

Couples in Business

Attorneys at Law

Couples in Business

Couples in Business

A Common Group

Couples in Business

A Common Group

Tax Information Knowledge Center Brochures

Partnerships 2022 (pdf)

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