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Forms in Standard Level for Partnership Edition (1065)

The forms needed by most partnerships are built in and fully automated.

IRS Form

Common Use

Form 1065   U.S. Return of Partnership Income

Main signature form required for all returns. 4-page form includes Schedules A, B, K, L, M-1, and M-2.

Schedule B-1   Information on Partners Owning 50% or More of the Partnership

To provide details in support of Form 1065, Schedule B, Questions 3a and 3b

Schedule D   Capital Gains and Losses

To report sale of exchange of capital assets (such as stocks and bonds), including capital gain distributions

Schedule F   Profit or Loss from Farming

For earned income from a farm business you own

Schedule K-1   Partner's Share of Income, Credits, Deductions, etc.

To report each individual partner's share of items each partner must report on his or her own return

Form 1125-A   Cost of Goods Sold

To calculate cost of goods sold for line 2 of Form 1065

Form 3468   Investment Credit

Rehabilitation, energy, and reforestation credits

Form 4562   Depreciation and Amortization

To figure deductions for depreciation and amortization of business and investment property

Form 4684   Casualties and Thefts

To figure deductions for losses due to casualty or theft

Form 4797   Sales of Business Property

To report income or loss from sale or exchange of business and certain investment property

Form 4835   Farm Rental Income

To report income or loss from farm property rental based on production

Form 6252   Installment Sale Income

To figure current-year taxable income from installment payments received

Form 7004   Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns

To extend filing date to 5 months after regular due date

Form 8283   Noncash Charitable Contributions

To satisfy reporting requirements when contributions other than cash or check total more than $500

Form 8825   Rental Real Estate Income and Expenses of a Partnership

To report income and expenses from rental real estate

Form 8910   Alternative Motor Vehicle Credit

Those who purchase vehicles propelled by certain alternative sources, including hybrids.

Form 8941   Credit for Small Employer Health Insurance Premiums

For small employers to claim credit for providing health insurance.

Form 8949   Sales and Other Dispositions of Capital Assets

To provide details on transactions for Schedule D that were formerly reported on Schedule D itself.

Other forms. In addition to the IRS forms there are numerous HowardSoft-designed forms and worksheets included to provide unlimited support for multiple activities and more comlete automation of calculations. For partnership returns there is also a unique Distribution Worksheet that lets you independently allocate each line of Schedule K among copies of Schedule K-1 in accordance with 9 independently definable distribution methods (or manually), so you don't have to manually allocate amounts on each and every Schedule K-1 yourself.

(Also see what forms are included in Economy Level and Premium Level software.)