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Partnership and LLC Income Tax Refresher Part 1: Introduction to Form 1065 (2005 Edition)

Sidney Kess & Barbara Weltman

This course is the first in a three-part series designed to provide a comprehensive review of the basic principles of partnership income tax preparation, which are applicable to limited liability companies (LLCs) treated as partnerships for federal income tax purposes.

The course introduces you to Form 1065, which is used to report to the IRS the income, deductions, credits, and other items from the operation of a partnership or a limited liability company (LLC).

It also defines a partnership for the purposes of filing Form 1065, and provides details on the different forms and schedules that need to accompany Form 1065 when it is filed.

This course details how deductions and income are taken into account when calculating net income or loss. New developments impacting Form 1065 are noted throughout the course.

Course Details
Price:  $75.00
Field of Study:  Taxation
Prerequisites:  None
Level:  Update
Course was last updated on:  10/04/04
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Credit Available For: Units
CPE 5 CPE
QAS 5 CPE
CFP® (Accepted by the CFP Board) 5 CPE
Enrolled Agent (Accepted by the IRS) 5 CPE
Law (Accepted by the State Bar of California) 5 CPE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

User Reviews
Reviewer: Justin B. submitted on 12/28/2005
Gives a good background on partnership/LLC tax and tax preparation
Reviewer: Peter R. submitted on 11/16/2005
Well organized, clear writing, and easy to understand
Reviewer: David L. submitted on 11/04/2005
excellent overview and line-by-line definitions
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