Description
Work from partnership books and partner records through Form 1065 and K-1s. Each case gives you ownership, capital, debt and distribution details to evaluate before comparing your return with the completed example.
What’s Included
- 10 fictional partnership and LLC scenarios with income statements, beginning and ending balance sheets, partner records and supporting documents.
- A 4-page Form 1065 Return Blueprint and a blank 4-page Partnership Client Organizer.
- Completed Form 1065, K-1 and state return links for all 10 scenarios.
How You’ll Use It
Review the client facts and supporting documents, prepare the return in your own tax software, then compare your work with the completed returns. Trace any differences back to the source documents.
View All Scenarios
- First-year partnership and contributions.
- Guaranteed payments and self-employment income.
- Rental real estate and Form 8825.
- Special allocations and inventory.
- Loss year and recourse debt.
- Contributed property and liabilities.
- New partner and changing ownership interests.
- Partner benefits and SEP contributions.
- Distributions and basis considerations.
- New York PTET capstone.
Who It’s For
Preparers learning partnership returns or seeking a structured way to practice beyond basic data entry.
Format & Details
Digital practice pack • Tax year 2025 • One preparer per license. Tax software is separate.
