What is a Partnership Return?

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A Partnership Return

For tax purposes, partnership is a business relationship between individuals with each contributing money, labor, property and skill. Each expects to share in the profits and losses of the business. Partnerships must report their income to the IRS by filing Form 1065.

The term partnership includes:

Limited Partnerships
Syndicates
Pools
Joint Ventures

For more information on completing Form 1065, please refer to the IRS Instructions for Form 1065.