Partnerships

Our team would need the whole or part of the following while preparing the return

Documents Needed

Profit and Loss Statement, Balance Sheet Statement, Start Date of Business, Principal Product or Service, Principal Business Activity,Principal Business Activity Code, Partners Information: a signed Form W-9 or Form W-8BEN,Number of Partners: Total number of partners in the business, Last Year’s Form 1065, Form 1099 Reporting Requirements:  Fixed Asset Purchases, Employer Identification Number, Distributions Made to Partners, Accounting Method: Cash or accrual

Information that is reported at the top of Form 1065 includes:

Name of the partnership, Address of the partnership, Principal business activity and business code,Federal employer identification number (EIN),Date that the business started, Accounting method

Income & Deductions Section

Investment Income, Profit and Loss Report, Additional Information: Some line items require a separate schedule, form, or statement to provide additional details.

1065 Schedule B

Basically the questions ask about the ebtity, Partners,Nationality

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