1065: Mastery and Planning Partnership Returns: Part 1
Author: Greg White
| CPE Credit: |
4 hours for CPAs
4 hours Federal Tax Related for EAs and OTRPs
4 hours Federal Tax Law for CTEC |
The IRS has made important changes to the Form 1065. We'll present a comprehensive course on preparing Form 1065, including in-depth treatment of the important new changes.
Join expert Greg White, CPA, as he walks you through how to complete Form 1065 and apply new rules that are crucial to preparing partnership tax returns.
Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2028 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN cardPublication Date: November 2025
Topics Covered
- Form 1065 Overview
- Taxable Years
- Who Must File?
- Form 1065
- Types of Partnerships
- Real Property Businesses Election Out of §163(j)?
Learning Objectives
- Identify circumstances under which a business involving only two spouses requires a partnership return
- Identify strategies to eliminate late-filing penalties for partnership returns
- Explain how to compute bonus depreciation on partnership step-ups under §743
- Identify circumstances where a partnership can revoke a section 754 election
- Recognize how to determine how to answer Form 1065 questions on passive activity grouping
- Identify the referenced court case that shows how broad the definition of a “partnership” can be
- Identify the year the 35% loss rule was originally enacted
- Identify the income tax rate that is applicable to partnerships
- Identify the late filing penalty per partner per month for returns to be filed in 2024 (not to exceed 12 months)
- Identify the audit rate for C corps based on the IRS Data Books
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (4 hours)
Program Prerequisites
None
Advance Preparation
None
