Table of Contents
Photographs of missing children. The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child.
This publication provides supplemental federal income tax information for partnerships and partners. It supplements the information provided in the Instructions for Form 1065, U. S. Return of Partnership Income, and the Partner's Instructions for Schedule K-1 (Form 1065). Generally, a partnership does not pay tax on its income but “passes through” any profits or losses to its partners. Partners must include partnership items on their tax returns.
For a discussion of business expenses a partnership can deduct, see Publication 535, Business Expenses. Members of oil and gas partnerships should read about the deduction for depletion in chapter 9 of that publication.
Certain partnerships must have a tax matters partner (TMP) who is also a general partner. For information on the rules for designating a TMP, see Designation of Tax Matters Partner (TMP) in the Form 1065 instructions and section 301.6231(a)(7)-1 of the regulations.
Internal Revenue Service
Tax Forms and Publications
1111 Constitution Ave. NW, IR-6526
Washington, DC 20224
334 Tax Guide for Small Business
505 Tax Withholding and Estimated Tax
535 Business Expenses
537 Installment Sales
538 Accounting Periods and Methods
544 Sales and Other Dispositions of Assets
551 Basis of Assets
925 Passive Activity and At-Risk Rules
946 How To Depreciate Property
See How To Get Tax Help near the end of this publication for information about getting publications and forms.
|More Online Publications|