1065 U.S. Return of Partnership Income

Tax Year 2025
Calendar Year Ending 12/31/2025

▾ Entity Information

Partnership Name: EIN: Date Started: Address: City: State / ZIP: Total Assets (Sch L): Principal Activity: NAICS: Accounting Method: Type of Return: # of K-1s:

▾ Partners (Schedule K-1 allocations)

#	Name	SSN / EIN	Type	Profit %	Allocated Ord. Income
1					0
2					0
3					0
TOTAL ↓				100.00 %	0

▾ Partner Addresses (Schedule K-1, Part II, Item F)

Partner addresses are complete.

#	Partner	Street address	City	State	ZIP	Country
1	Selassie Nuvor
2	Francis Mensah
3	Ama Owusu

Item F on each K-1 is the partner's mailing address. For a foreign partner leave State blank, put the foreign postal code in the ZIP column and enter the country — the K-1 header then shows the partner as foreign, which is the trigger to look at §1446 withholding and Forms 8804 and 8805.

▾ Income

Description Amount Entered Calculated

        1a
        Gross receipts or sales
        
        1b
        Returns and allowances
        
1cBalance (1a − 1b)0

        2
        Cost of goods sold (Form 1125-A)
        
3Gross profit (1c − 2)0

        4
        Ordinary income/(loss) from other partnerships, estates, trusts
        
        5
        Net farm profit/(loss) (Sch F)
        
        6
        Net gain/(loss) — Form 4797
        
        7
        Other income/(loss) (attach statement)
        
8TOTAL INCOME (sum lines 3 through 7)0

▾ Deductions (limited to ordinary and necessary trade/business expenses)

Description Amount Entered Calculated

        9
        Salaries and wages (other than to partners)
        
        10
        Guaranteed payments to partners
        
        11
        Repairs and maintenance
        
        12
        Bad debts
        
        13
        Rent
        
        14
        Taxes and licenses
        
        15
        Interest (see instructions)
        
        16a
        Depreciation (Form 4562)
        
        16b
        Less depreciation reported on Form 1125-A and elsewhere
        
16cNet depreciation (16a − 16b)0

        17
        Depletion (do not deduct oil & gas)
        
        18
        Retirement plans, etc.
        
        19
        Employee benefit programs
        
        20
        Other deductions (attach statement)
        
21TOTAL DEDUCTIONS (add lines 9 through 20)0
22ORDINARY BUSINESS INCOME/(LOSS) (line 8 − line 21)0

▾ Tax and Payment (generally $0 — partnerships are pass-through entities)

Description Amount Entered Calculated

        23
        Interest due under the look-back method (F8697 / F8866)
        
        24
        BBA AAR imputed underpayment
        
        25
        Other taxes (see instructions)
        
26TOTAL BALANCE DUE (sum 23+24+25)0

20 Other Deductions — Supporting Statement

Screen DED
Posts to 1065 Main, line 20

Total posts to Form 1065, page 1, line 20.

Line 20 on the 1065 Main screen is calculated from this screen and cannot be typed over. Enter only ordinary and necessary business expenses that have no line of their own on page 1. Do not enter the nondeductible half of meals, fines and penalties, or charitable contributions here. Every amount needs a description — the statement prints with the return.

0 detail lines

#	Description	Amount












	TOTAL OTHER DEDUCTIONS (page 1, line 20)	0

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

Screen K1 — 3 partners
Allocations from 1065 Main, line 22

How this screen flows: ordinary income (line 22) is allocated by profit %; guaranteed payments are entered per partner (they are never allocated by percentage). Capital account columns roll up into Schedule M-2, and M-2 line 9 posts to Schedule L, line 21.

▾ Part II, Item K (partner's share of liabilities — from Sch L, end of year)

Liability type	Partner 1— · GP · 0%	Partner 2— · GP · 0%	Partner 3— · LP · 0%	Total
Nonrecourse (Sch L, line 18 — shared by profit %)	0	0	0	0
Recourse (§752 — general partners only)	0	0	0	0

▾ Part II, Item L (capital account analysis — tax basis)

Capital account	Partner 1	Partner 2	Partner 3
Beginning capital account
Capital contributed during the year
Current year net income (loss) (auto — line 22 × profit %)	0	0	0
Other increase (§705 — e.g. tax-exempt income)
Withdrawals and distributions
Other decrease (§705 — e.g. nondeductible expenses)
ENDING CAPITAL ACCOUNT	0	0	0

▾ Part III (partner's share of current year income, deductions, credits, and other items)

Box	Description	Partner 1	Partner 2	Partner 3
1	Ordinary business income (loss)	0	0	0
4a	Guaranteed payments for services (enter per partner — must total line 10)
14A	Self-employment earnings (loss) (LP: guaranteed payments only — §1402(a)(13))	0	0	0
18A	Tax-exempt interest income	0	0	0
18C	Nondeductible expenses	0	0	0
19A	Distributions of cash and marketable securities	0	0	0
20Z	Section 199A qualified business income (guaranteed payments are not QBI)	0	0	0
20Z	Section 199A W-2 wages (line 9 × profit %)	0	0	0

L Balance Sheets per Books

Screen L
Line 21 posts from Sch M-2

Balance sheet is in balance.

Schedule L is per books, not per return. Line 21 (partners' capital) is pulled from Schedule M-2 and cannot be typed over — if the balance sheet is out, the error is in the asset or liability lines, or in M-2 itself.

▾ Assets

#	Description	Beginning of year	End of year
1	Cash
2a	Trade notes and accounts receivable
2b	Less allowance for bad debts (enter as positive)
	Net receivables	0	0
3	Inventories
4	U.S. government obligations
5	Tax-exempt securities
6	Other current assets (attach statement)
7a	Loans to partners (or persons related to partners)
7b	Mortgage and real estate loans
8	Other investments (attach statement)
9a	Buildings and other depreciable assets
9b	Less accumulated depreciation (enter as positive)
	Net depreciable assets	0	0
10a	Depletable assets
10b	Less accumulated depletion
11	Land (net of any amortization)
12a	Intangible assets (amortizable only)
12b	Less accumulated amortization
13	Other assets (attach statement)
14	TOTAL ASSETS	0	0

▾ Liabilities and Capital

#	Description	Beginning of year	End of year
15	Accounts payable
16	Mortgages, notes, bonds payable in less than 1 year
17	Other current liabilities (attach statement)
18	All nonrecourse loans
19a	Loans from partners (or persons related to partners)
19b	Mortgages, notes, bonds payable in 1 year or more
20	Other liabilities (attach statement)
	Total liabilities	0	0
21	Partners' capital accounts (← Sch M-2, lines 1 and 9)	0	0
22	TOTAL LIABILITIES AND CAPITAL	0	0
	Out of balance (line 14 − line 22)	0	0

M-1 Reconciliation of Income (Loss) per Books With Analysis of Net Income (Loss) per Return

Screen M1
Line 9 must tie to Analysis, line 1

Schedule M-1 ties to the Analysis of Net Income (Loss).

Why line 3 exists: guaranteed payments are deducted on page 1, line 10, but they are a Schedule K item in the Analysis of Net Income. They are added back here so both sides measure the same thing.

#	Description	Amount
1	Net income (loss) per books
2	Income included on Sch K, lines 1, 2, 3c, 5, 6a, 7, 8, 9a, 10, and 11, not recorded on books this year
3	Guaranteed payments (other than health insurance — auto from line 10)	0
Line 4 — Expenses recorded on books this year not included on Sch K, lines 1 through 13e, and 21
4a	Depreciation (book in excess of tax)
4b	Travel and entertainment (e.g. 50% meals disallowance)
5	Add lines 1 through 4	0
Line 6 — Income recorded on books this year not included on Sch K, lines 1 through 11
6a	Tax-exempt interest
6b	Other book income not on Sch K (attach statement)
Line 7 — Deductions included on Sch K, lines 1 through 13e, and 21, not charged against book income
7a	Depreciation (tax in excess of book)
7b	Other (attach statement)
8	Add lines 6 and 7	0
9	INCOME (LOSS) (line 5 − line 8)	0

▾ Analysis of Net Income (Loss) per Return (target for M-1, line 9)

1	Ordinary business income (loss) (page 1, line 22)	0
1	Guaranteed payments (Sch K, line 4)	0
1	NET INCOME (LOSS) PER RETURN	0
	Variance (M-1 line 9 − Analysis)	0

M-2 Analysis of Partners' Capital Accounts

Screen M2
Rolls up from Sch K-1, Item L

Every line below is the sum of the partner columns on the Sch K-1 screen — this is the relationship the IRS expects. Line 9 posts straight to Schedule L, line 21, so M-2 and the balance sheet can never disagree. Edit the amounts on the K-1 screen, not here.

#	Description	Total (all partners)
1	Balance at beginning of year	0
2a	Capital contributed during year — cash	0
2b	Capital contributed during year — property	0
3	Net income (loss) (tax basis — page 1, line 22 as allocated)	0
4	Other increases (§705 — attach statement)	0
5	Add lines 1 through 4	0
6a	Distributions — cash	0
6b	Distributions — property	0
7	Other decreases (§705 — attach statement)	0
8	Add lines 6 and 7	0
9	BALANCE AT END OF YEAR (line 5 − line 8)	0

▾ Tie-outs

Schedule L, line 21, end of year	0
Sum of ending capital accounts on the K-1s	0
Line 3 vs. page 1, line 22 (a difference means the profit percentages do not total 100%)	0

Screen not included in this module

This screen is part of a later session. The active screens in this build are
1065 Main, Sch K-1, Sch L, Sch M-1, Sch M-2, and Form View.

Partnership Summary

Gross Receipts 0

Total Income (Ln 8) 0

Total Deductions (Ln 21) 0

Guaranteed Pmts (Ln 10) 0

Partners' Capital (M-2 ln 9) 0

Ordinary Business Income 0

K-1 Pass-Through Preview

Selassie Nuvor (50%) 0

Francis Mensah (30%) 0

Ama Owusu (20%) 0

Diagnostics

Profit % totals 100OK

K-1 guaranteed pmts = line 10OK

Sch L balances (EOY)OK

Sch L balances (BOY)OK

M-1 line 9 = AnalysisOK

M-2 line 9 = Sch L line 21OK

Item F = Sch L line 14OK

F4 recalculates the return.
F2 opens View/Print menu.
Form 1065 itself owes no federal tax — income/(loss) flows to partners on Schedule K-1.

📄 Form 1065 Preview — populated from worksheet

Form

1065

Department of the Treasury
Internal Revenue Service

U.S. Return of Partnership Income

For calendar year 2025, or tax year beginning ____, ending ____

OMB No. 1545-0123

▶ Go to www.irs.gov/Form1065
for instructions.

A Principal business activity

D Employer identification number

Name of partnership

Number, street, and room or suite no. If a P.O. box, see instructions.

City or town, state or province, country, and ZIP or foreign postal code

E Date business started

F Total assets (see instructions)

B Principal product or service

Consulting Services

C Business code number

H Check accounting method

☐ Cash ✗ Accrual ☐ Other

I Number of Schedules K-1. Attach one for each person who was a partner at any time during the tax year

Caution: Include only trade or business income and expenses on lines 1a through 22 below. See instructions for more information.

Income
1a	Gross receipts or sales
1b	Returns and allowances
1c	Balance. Subtract line 1b from line 1a
2	Cost of goods sold (attach Form 1125-A)
3	Gross profit. Subtract line 2 from line 1c
4	Ordinary income (loss) from other partnerships, estates, and trusts (attach statement)
5	Net farm profit (loss) (attach Schedule F (Form 1040))
6	Net gain (loss) from Form 4797, Part II, line 17
7	Other income (loss) (attach statement)
8	Total income (loss). Combine lines 3 through 7
Deductions (See instructions for limitations.)
9	Salaries and wages (other than to partners) (less employment credits)
10	Guaranteed payments to partners
11	Repairs and maintenance
12	Bad debts
13	Rent
14	Taxes and licenses
15	Interest (see instructions)
16a	Depreciation (if required, attach Form 4562)
16b	Less depreciation reported on Form 1125-A and elsewhere on return
16c	Net depreciation. Subtract line 16b from line 16a
17	Depletion (Do not deduct oil and gas depletion.)
18	Retirement plans, etc.
19	Employee benefit programs
20	Other deductions (attach statement)
21	Total deductions. Add the amounts shown in the far right column for lines 9 through 20
22	Ordinary business income (loss). Subtract line 21 from line 8

Form 1065 (2025) · Page 2

Tax and Payment
23	Interest due under the look-back method—completed long-term contracts (attach Form 8697)
24	BBA AAR imputed underpayment (see instructions)
25	Other taxes (see instructions)
26	Total balance due. Add lines 23, 24, and 25
27	Payment (see instructions)	0
28	Amount owed. If line 27 is smaller than line 26, enter amount owed	0

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than partner or limited liability company member) is based on all information of which preparer has any knowledge.

Signature of partner or limited liability company member

Date

May the IRS discuss this return with the preparer shown below? ☐ Yes ☐ No

Form 1065 (2025) · Page 5

Analysis of Net Income (Loss) per Return
1	Net income (loss). Combine Schedule K, lines 1 through 11, then subtract lines 12 through 13e and 21

Schedule L Balance Sheets per Books
	Assets	Beginning of year	End of year
1	Cash
2a	Trade notes and accounts receivable
2b	Less allowance for bad debts
	Net trade notes and accounts receivable
3	Inventories
4	U.S. government obligations
5	Tax-exempt securities
6	Other current assets (attach statement)
7a	Loans to partners (or persons related to partners)
7b	Mortgage and real estate loans
8	Other investments (attach statement)
9a	Buildings and other depreciable assets
9b	Less accumulated depreciation
	Net depreciable assets
10a	Depletable assets
10b	Less accumulated depletion
11	Land (net of any amortization)
12a	Intangible assets (amortizable only)
12b	Less accumulated amortization
13	Other assets (attach statement)
14	Total assets
	Liabilities and Capital
15	Accounts payable
16	Mortgages, notes, bonds payable in less than 1 year
17	Other current liabilities (attach statement)
18	All nonrecourse loans
19a	Loans from partners (or persons related to partners)
19b	Mortgages, notes, bonds payable in 1 year or more
20	Other liabilities (attach statement)
21	Partners' capital accounts
22	Total liabilities and capital

Schedule M-1 Reconciliation of Income (Loss) per Books With Analysis of Net Income (Loss) per Return
1	Net income (loss) per books
2	Income included on Schedule K, lines 1, 2, 3c, 5, 6a, 7, 8, 9a, 10, and 11, not recorded on books this year (itemize)
3	Guaranteed payments (other than health insurance)
4a	Expenses recorded on books this year not included on Schedule K — Depreciation
4b	Expenses recorded on books this year not included on Schedule K — Travel and entertainment
5	Add lines 1 through 4
6a	Income recorded on books this year not included on Schedule K, lines 1 through 11 — Tax-exempt interest
6b	Income recorded on books this year not included on Schedule K — Other
7a	Deductions included on Schedule K not charged against book income — Depreciation
7b	Deductions included on Schedule K not charged against book income — Other
8	Add lines 6 and 7
9	Income (loss). Subtract line 8 from line 5. Must equal Analysis of Net Income (Loss), line 1

Schedule M-2 Analysis of Partners' Capital Accounts
1	Balance at beginning of year
2a	Capital contributed during year — Cash
2b	Capital contributed during year — Property
3	Net income (loss) (see instructions)
4	Other increases (itemize)
5	Add lines 1 through 4
6a	Distributions — Cash
6b	Distributions — Property
7	Other decreases (itemize)
8	Add lines 6 and 7
9	Balance at end of year. Subtract line 8 from line 5

For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 11390Z Form 1065 (2025)