- NY Credits : 19.0
- TX Credits : 19.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 19.0
Form 1065 - A Practical Guide
Upon successful completion of Form 1065 - A Practical Guide, the user should be able to:
recognize what constitutes a partnership; identify various types of partners and partnerships; recognize factors that distinguish a partnership from other entities;
determine when Form 1065 is due and dates extensions should be filed by; recognize general information items on Page 1 and information required to answer questions about the partnership on Pages 2 and 3 of Form 1065; identify accounting methods and tax years available to a partnership; determine various penalties that may be imposed on taxpayers; and
determine or recognize partnership income, gains and losses, uniform capitalization rules, cost of goods sold, business deductions, capital accounts, allocations, partner's basis, tax consequences to partners of distributions and upon termination or merger, application of self-employment tax to partners, and classification of items on Schedules L, M-1, M-2, and M-3.