1/28/2024 0 Comments Sample 1065 tax return![]() In most cases, partnerships will work with an accountant or tax preparer to go through their documents and prepare their tax returns. Next, the partners must report this information and pay taxes on their share of the business income when filing their individual annual tax returns with the IRS.The partnership itself reports its total income and provides forms to the partners. ![]() They are different from both sole proprietorships and corporations and in some ways reflect a combined approach. If you are part of a business partnership, you should be aware of the unique tax reporting requirements for this type of company. ![]()
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