Example 1065 Form Completed: A Guide to Filing Your Partnership Return

As a partnership, you are required to file Form 1065 with the IRS by the deadline. One of the most important schedules in your partnership return is Schedule M-2, which aims to display the differences of the capital account to the partners for a year and determine the closing balance.

Do You Need to Complete Schedule M-2?

Before you start completing Schedule M-2, make sure you answer question 4 on Schedule B. If you replied Yes, you are not required to finish Schedule M-2.

Sample W2 Template Using Accepted Electronic W-2 Formats

You can use the sample W2 template available in Excel format to ensure that your partnership return is accurate and complete. This template follows the accepted electronic W-2 formats listed in the document above.

Completing Form 1065 Schedule M-2

To complete Schedule M-2, follow these steps:

1. From the Main Menu of the tax return (Form 1065), select Schedule M-2 Reconciliation.

2. Display the differences of the capital account to the partners for a year and determine the closing balance.

Additional Resources for Your Partnership Return

The City of East Lansing's Employer Withholding Tool is available online, allowing you to set up your withholding tax account and complete your withholding tax reporting and payment.

In addition, the following resources are available:

* 2022 EL-1120 Instructions: Corporation Return Instructions (PDF)

* 2022 EL-1120 Return: Corporation Return (PDF)

* EL-6-IT Notice of Change or Discontinuance

* 2022 EL-1065 Instructions: Partnership Return Instructions (PDF)

* 2022 EL-1041 Return - Trust Return (PDF)

* EL-1040X Amended Income Tax Return Payment Voucher (PDF)

* EL-1040X Amended Income Tax Return (PDF)

* EL-2848 Power of Attorney Authorization (PDF)

* 2022 Part Year Resident Calculation (PDF)

* 2022 EL-1040 Individual Return Attachments pages 3-15 (PDF)

Remember to review your partnership return carefully, ensuring that all information is accurate and complete. If you have any questions or concerns, consult with a tax professional or the IRS for guidance.

Example 1065 form completed