Form 1065 Boot Camp: Step-by-Step Preparation with Completed Forms

The objective of this course is to train new, rusty, or returning-to-practice staff with a hands-on, pencil-pushing gold standard for preparing Form 1065. Common to advanced issues of partnerships are explored in the current course that can double as a quick and practical reference guide for tax treatment and tax preparation guidelines. Within each chapter, we illustrate various parts and areas of interest when preparing a 1065, including examples and corresponding tax forms. We bring it all together in the final two chapters with a comprehensive example that integrates and links all previous chapters. The course and instruction delivery are geared toward a basic understanding and progress to more complex issues via Surgent's "Step-by-Step" preparation guide.


  • Learn in detail about the preparation of Form 1065, Schedules M-1, K, and K-1
  • Learn in detail about common business reporting Forms 4562 and 4797
  • Provide staff with the first stage of a graduated professional education program in servicing partnership and LLC clients


  • Comprehensive coverage of the Inflation Reduction Act of 2022 
  • Gain a thorough understanding of federal income tax laws for partnerships and LLCs, from formation to tax return preparation issues 
  • Filing requirements for Schedules K-2 and K-3 
  • Who files Form 1065, and who does not file Form 1065 
  • Tax Basis Capital Account Reporting Requirements 
  • Trade or Business income and expenses versus Separately Stated Items 
  • The importance of Schedule M-1 
  • Partnership distributions -- current or liquidating, cash or property 
  • How to allocate recourse and nonrecourse debt 
  • Self-employment tax issues; court cases and trends in tax audits of earnings subject to self-employment taxes
  • Complete coverage of any new legislation enacted before presentation 
  • Section 163(j) limitations 
  • Mastering two common tax forms, Depreciation (4562) and Sale of Assets (4797) 
  • Final regulations on Section 168(k) 
  • Partnership reporting oddities 
  • Accurately preparing partnership returns and reconciling book income to taxable income 
  • The Centralized Audit Regime under the Bipartisan Budget Act of 2015 


Additional Information

Designed For

All levels of staff and company controllers responsible for filing these forms



Advanced Preparation



8.00 Taxes



Course Number


Level of Knowledge


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