Tax Form 1065-B  
 Form 1065-B - U.S. Return of Income for Electing Large Partnerships

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Form 1065-B

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U.S. Return of Income for Electing Large Partnerships. Form 1065-B

Use Form 1065-B, U.S. Return of Income for Electing Large Partnerships, to:

  Form 1065-B is an information return used to report the income, deductions, gains, losses, etc., from the operation of an electing large partnership (as defined in section 775). An electing large partnership (ELP) may be required to pay certain taxes, such as recapture of the investment credit, but generally it “passes through” any profits or losses to its partners. Partners must include these ELP items on their income tax returns.

  A regular partnership is required to separately report to each partner the partner's distributive share of any item of income, gain, loss, deduction, or credit that if separately taken into account by any partner would result in an income tax liability for that partner different from that which would result if the item was not taken into account separately. Unlike a regular partnership, an ELP combines most items at the partnership level and passes through net amounts to partners. These ELP rules override the regular partnership tax rules to the extent they are inconsistent with the regular partnership tax rules.


From Fedforms.Gov:
"Electing large partnerships (as defined in section 775) use Form 1065-B to report the income, deductions, gains, losses, etc., from their operations."


DOWNLOAD Form 1065-B

This form may be downloaded directly from the IRS website. To open or download, in PDF format, simply click on the link below:

Form 1065-B

 



 

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