Form 1065 - General Filing Considerations   Updated

Upon successful completion of this course, the user should be able to:

• recognize which entities are required to file Form 1065,

• recognize when the Form 1065 is due and identify permitted uses of authorized private delivery services,

• identify various penalties that may be imposed,

• recognize a natural business year and the least aggregate deferral method,

• identify the general information items on Page 1 of Form 1065,

• recognize the questions about the partnership on Pages 2 and 3 of Form 1065,

• determine the required partnership and partner elections, and

• determine the accounting methods available to a partnership and identify IRC and Sec. 481 adjustments.