When filing your Form 1065, also known as the U.S. Return of Partnership Income, several documents need to be attached or included to ensure accuracy and compliance. Here are some essential documents you may need to attach:
1. Schedule K-1: Each partner's share of profits, losses, and credits should be reported on a Schedule K-1. Attach a copy of Schedule K-1 for each partner.
2. Schedule B-1: If your partnership has more than ten partners, you need to complete Schedule B-1 (Information on Partners Owning 50% or More of the Partnership).
3. Schedule M-2: Schedule M-2 (Analysis of Partner's Capital Accounts) provides an analysis of changes in each partner's capital account. It helps determine if any partners received distributions in excess of their basis.
4. Schedule M-3: In certain cases, partnerships are required to file Schedule M-3 (Net Income Reconciliation for Certain Partnerships). Small partnerships may not need to attach Schedule M-3.
5. Consent to Extend the Time to Assess Tax: If you need additional time to file Form 1065 or have amended any partner's tax return, you should attach a completed and signed Form 872 (Consent to Extend the Time to Assess Tax).
6. Form 8082: If you're disputing adjustments proposed by the IRS for previously reported tax positions, include a completed Form 8082 (Notice of Inconsistent Treatment or Administrative Adjustment Request).
7. Supporting Schedules and Forms: Attach any other required schedules or forms, such as Schedule D (Capital Gains and Losses), Form 4562 (Depreciation and Amortization), and Form 8825 (Rental Real Estate Income and Expenses), depending on your partnership's activities.
Remember to review the IRS guidelines and instructions for Form 1065 to ensure you attach all the necessary documents and complete them accurately. It's always advisable to consult a tax professional or use tax software to ensure compliance with the latest regulations.