Links to Various Sections of This Page

Go to Income and Deductions Go to Schedule A
Go to Schedule B Go to Schedule K
Go to Schedule L Go to Schedule M-1
Go to Schedule M-2   Go to Additional Tax Information

 

General Information

Enter all the information that you currently have available.  If you have any additional information not covered  on this worksheet please enter it in the Additional Tax Information box.
Business Name (Line 1)       
Business Name (Line 2)
Address
City

    State       Zip Code

Telephone Number
E-mail Address
State of Incorporation (if different than state in current address)
Fiscal/Short Year Begin
Fiscal/Short Year End
Return Due Date
A    Business Code No
B    Business Activity
C    Product of Service
D    EIN
E    Date Business Started
F    Total Assets
G    (1)  Initial Return Yes (2)  Final Return Yes
      (3)  Name Change Yes (4)  Address Change Yes
      (5)  Amended Return Yes    
H    Method of Accounting (Default=Cash)
      Accrual Yes
      Other Yes
      If Other, Specify
Number of Schedules K-1 attached
Title of Person Signing Return
Authorize IRS to Discuss Return with Preparer Yes
 

Go to Schedule A

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Income and Deductions

Income
1a Interest
  b Returns and Allowances
4 Ordinary income (Loss) from Other Partnerships and Fiduciaries
5 Net Farm Profit (Loss) from Schedule F
6 Net Gain (Loss) from Form 4797, Part II, line 18
7 Other Income (Loss)
8 Total income
Deductions
9 Salaries and Wages (Other than to Partners)
  Employment Credits
10 Guaranteed Payments to Partners
11  Repairs and Maintenance
12 Bad Debts
13 Rent
14 Tax, Auto/Truck Tax, Payroll
  Tax, City Tax, Real Estate
  Tax, Employer Tax, State Income
  Tax, Other    
15 Interest
16a Depreciation (Form 4562)
   b Less: Depreciation Elsewhere on Return
17 Depletion (Not Oil and Gas)
18 Retirement Plans etc
19 Employee Benefit Programs
20 Other Deductions:  
     Accounting           Maintenance   
     Advertising Meals/Entertainment
     Amortization DOT hrs of Service Rules
     Auto/Truck Office Expenses
     Bank Charges Office Supplies
     Cash Shortages Outside Services
     Cleaning/Laundry Parking
     Commissions Postage
     Delivery Charges Promotion
     Dues/Subscription Storage
     Equipment Rental Supplies
     Freight Telephone
     Fuel Tools
     Insurance Travel
     Janitor Uniforms
     Leases Utilities
     Legal/Professional Other Deductions
     Licenses/Permits    
22 Ordinary Income
 

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Schedule A - Cost of Goods Sold

1 Inventory Beginning of year
2 Purchases
  Less cost items withdrawn for personal use
3 Cost of labor
4 Additional section 263A costs
5 Other costs
  Depreciation
  Amortization
  Auto & truck expense, and interest
7 Inventory at end of year
9a Check all methods used for valuing closing inventory:  
  Not applicable Yes
  (II) Lower of cost or market Yes
(III) Other (attach explanation) Yes
 

Specify:                                             

 
 b Write down of "subnormal" goods Yes
 c LIFO inventory method adopted (attach Form 970) Yes
 d Do the rules of section 263A apply to the partnership? Yes
 e Any changes in inventory valuation Yes
 

Go to Schedule K

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Schedule B - Other Information

1a Is this a domestic general partnership? (default) Yes
 b Is this a domestic limited partnership? Yes
 c Is this a domestic limited liability company? Yes
 d Is this a domestic limited liability partnership? Yes
 e Is this a foreign partnership? Yes
  Other Specify:                                                 
2 Are any partners in this partnership also partnerships? Yes
3 During the partnership's tax year, did the partnership own any  interest in another partnership or in any foreign entity that was disregarded as an entity separate from its owner? Yes
4 Is this partnership subject to consolidated audit procedures? Yes
  If no, did all partners have timely filed income tax returns fully  
  reporting their shares of the income, deductions, and credits of  
  the partnership? No
5 Does partnership meet all requirements for question 5? Yes
  Print Schedules L, M-1 and M-2 (Default=No) Yes
  Print Total Assets Yes
6 Does this partnership have any foreign partners? Yes
7 Partnership is a publicly traded partnership in Sec 469(k)(2)? Yes
8 Has partnership filed, or is required to file, Form 8264? Yes
9 Did partnership have foreign financial account? Yes
  If yes, name of country                                   
10 Was partnership grantor of, or transferor to, a foreign trust? Yes
11 Was there a distribution of property or transfer of partnership  
  interest during the tax year? Yes
12 Enter the number of Forms 8865, Return of U.S. Persons With  
  Respect to Certain Foreign Partnerships, attached to this return
Tax Matters Partner
  Name  
  Address  
  ZIP Code  
  SSN

EIN

 

Go to Schedule L

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Schedule K - Partner's Shares of Income, Credits, Deductions, Etc.

Income (Loss)
2 Net income (loss) from rental & real estate activities
  Part of line 2 for SE worksheet, line 1b  
3a Gross income - other rental activities
 b Less expenses (attach schedule)
4 Portfolio income (loss): (a) interest income
                                     (b) dividend income
                                     (c) royalty income
                                        (d) net S/T capital gain (loss)
                                     (e) net L/T capital gain (loss) for 1 yr
        28% rate gain (loss)
        Qualified 5-yr gain
                                     (f) other portfolio income (loss)
5 Guaranteed payments to partners
6 Net gain (loss) under section 1231 (not casualty or theft)
7 Other income:  
  Other income (loss) (attach schedule)
  Section 1202 gain
Deductions
8 Charitable contributions (attach list)
9 Section 179 expense deduction
10 Deductions related to portfolio income
11 Other deductions: From casualty and theft
    Penalty - early withdrawal of savings
    Soil and water conservation
    Elderly and handicapped barrier removal
    Depreciation (carries from asset mgr)
    Other deductions (attach schedule)
    Auto Expenses
Credits
12a (1) From partnerships to which section 42(j)(5) applies
  (2) Other than on line 12a(1)
 b Qualified rehabilitation expenditures related to rental real estate activities
 c Credit related to rental real estate (not included above)
 d Credit related to other rental activities
13 Other credits: Disabled access credit
                       Work opportunity credit
                       Welfare-to-Work credit
                       Non-conventional source fuel credit
                        Other investment credits (Form 3468)
                       Orphan drug research
                       Other credits (attach schedule)
Investment Interest
14a Interest expense on investment debts
   b (1) Investment income included in lines 4a, b, c, and f
  (2) Investment expense included in line 10
Self-Employment
15 Suppress self employment tax Yes
   a Net earning (loss) from self-employment
   b Gross farming or fishing income
   c Gross non-farm income
Tax Preference Items
16a Depreciation adjustment on property in service after 1986
   b Adjusted gain or loss
   c Depletion (other than oil and gas)
   d (1) Gross income from oil, gas, and geothermal property
  (2) Deductions allocable to oil, gas and geothermal property 
   e Other adjustments and tax preference items (attach schedule)
Foreign Taxes
17a Foreign country or US possession
   b Gross income from all sources
   c Total gross income sourced at partner level
   d Foreign total gross income sourced at partnership level
  1 Passive
  2 Listed categories (attach schedule)
  3 General limitations
   e Deductions allocated and apportioned at partner level
  1 Interest expense
  2 Other
   f Deductions allocated and apportioned at partnership level to foreign source income
  1 Passive
  2 Listed categories (attach schedule)
  3 General limitations
   g Total foreign taxes
  Foreign taxes accrued (paid is automatic) Yes
   h Reduction in taxes available for credit
Other
18a Type of sec 59(e)(2) expenditures              Amount
19 Tax-exempt interest income
20 Other tax-exempt income
21 Non-deductible expenses:  
  Disallowed portion of meals and entertainment 
  Key Man Life Insurance
  Expenses directly related to tax exempt income
  Other nondeductible expenses
22 Distributions of money (Cash and marketable securities) 
23 Distributions of property other than money
24 Other items and amounts required to be reported separately to  
  partners.  Enter amounts on Universal K-1 input screen  
 

Go to Schedule M-1

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Schedule L - Balance Sheet

  Assets

Beginning of Tax Year

End of Tax Year

1 Cash    
2a Notes/accounts receivable    
  b Bad debt allowance    
3 Inventories    
4 US government obligations    
5 Tax-exempt securities    
6 Other current assets    
7 Mortgage/real estate loans    
8 Other investments    
9a Bldg/other depreciable assets    
  b Accumulated depreciation    
10a Depletable assets    
  b Accumulated depletion    
11 Land (net of any amortization)    
12a Intangible assets (amortization)    
  b Less accumulated amortization    
13 Other assets    
Liabilities and Capital
15 Accounts payable    
16 Mortgage/notes/bonds under1 yr    
17 Other current liabilities       
18 All non-recourse loans       
19 Mortgage/notes/bonds over 1 yr       
20 Other liabilities      
21 Partner's Capital Account    
Balance Sheet Options
  Suppress balance sheet information   Yes    
      Reason:                                                          
 

Go to Schedule M-2  

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Schedule M-1- Reconciliation of Income Per Books With Income per Return

  Suppress printing on M-1, M-2 reconciliation Yes
  Force printing of M-1, M-2 reconciliation Yes
1 Net income (loss) per books
2 Schedule K income not on books
3 Guaranteed payments
4a Depreciation
  b Travel and entertainment
  c Other
6 Income not included on Schedule K:  
  a Tax exempt interest
  Other
7 Deductions not included on Schedule K:  
  a Depreciation
  Other

 

Schedule M-2 - Analysis of Partner's Capital Accounts

1 Balance at beginning of year
2a Capital contributed: Cash
  b

Property

4 Other increases
6a Distributions: Cash
  b

Property

7 Other decreases - itemize

 

 

Additional Tax Information

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Last modified: 09/15/07