In this video tutorial, I cover all of the steps to file a simple Form 1065 partnership tax return for the 2022 tax year. The sample company is an LLC operating a restaurant in Florida. The LLC is owned by two individuals (John & Jane), and they actively participate in the management of the LLC.
The LLC Form 1065 covers the following elements:
1. Two-member LLC taxed as a partnership for federal tax purposes.
2. Complete the full Form 1065 (Pages 1 through 5).
3. Form 1125-A for Cost of Goods Sold (COGS).
4. Schedule B-1 for greater than 50% of ownership.
5. Schedule B-2 electing out of Centralized Partnership Audit Regime.
6. Form 4562 for Bonus Depreciation.
7. Schedules K-1, K-2 & K-3.
8. Basis worksheets for Partners.
9. De minimis safe harbor elections Treas Reg. 1.263(a)-1(f).
For more Form 1065 tutorials for different businesses, see the following playlist:
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Other videos for Partnership Tax Filings:
Schedule K-2 & K-3 Filing Exceptions: [ Ссылка ]
Schedule B-1 Ownership: [ Ссылка ]
Schedule B-2: [ Ссылка ]
Form 8825 Rentals: [ Ссылка ]
Unreimbursed Partnership Expenses: [ Ссылка ]
Recourse vs Nonrecourse Debt: [ Ссылка ]
Deducting Business Gifts: [ Ссылка ]
Foreign Owned LLC Form 1065: [ Ссылка ]
Foreign Owned LLC Partnership Pay No Tax: [ Ссылка ]
Do I Need a Form 1065 If I Lost Money: [ Ссылка ]
Am I Liable for Self-Employment Tax: [ Ссылка ]
Conversion of DRE to Partnership: [ Ссылка ]
Schedule K-2 and K-3 Tutorials for Various Types of Partnerships
Tutorial 1: U.S. Partnership LLC with Foreign DRE & No ECI
1. Intro & Fact Pattern: [ Ссылка ]
2. Form 1065 Pages 1 to 5: [ Ссылка ]
3. Schedule K-2: [ Ссылка ]
4. Schedule K-3: [ Ссылка ]
Tutorial 2: U.S. Partnership LLC with Foreign DRE and U.S. ECI
1. Intro & Fact Pattern: [ Ссылка ]
2. Form 1065 Pages 1 to 5: [ Ссылка ]
3. Schedule K-2: [ Ссылка ]
4. Schedule K-3: [ Ссылка ]
Tutorial 3: U.S. Investment Fund LP with U.S. FDAP Income
1. Intro & Fact Pattern: [ Ссылка ]
2. Form 1065 Pages 1 to 5: [ Ссылка ]
3. Schedule K-2: [ Ссылка ]
4. Schedule K-3: [ Ссылка ]
For a larger database of tutorials, please visit our website and search for your question:
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DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials.
#IRS #Form1065 #PartnershipTax
How to File Form 1065 for 2022 - Restaurant Example
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