Knowledge Base

10758: 1065 - Analysis of Net Income or Loss

1065 Partnership

Where is the analysis of net income or loss for a 1065 reported?

The Analysis of Net Income is reported on a 1065 return (page 5 in view mode):

Per the IRS 1065 Instructions, "For each type of partner shown, enter the portion of the amount shown on line 1 that was allocated to that type of partner. ... The sum of the amounts shown on line 2 must equal the amount shown on line 1."

Amounts flow to row 2a or 2b based on the Partnership entity type, and whether the partners are General or Limited Partners. The partnership entity type is indicated by checking one of the following options on the B screen, line 1:

  • Domestic general partnership
  • Domestic LLC
    • Note: this selection causes all amounts to be printed on line 2b limited partners even if you have indicated a general partner in K1 data entry. Per the instructions, "Report all amounts for LLC members on the line for limited partners."
  • Foreign Partnership
  • Domestic limited partnership
  • Domestic limited liability partnership
  • Other

For partner specific selections, go to the K1 screen for each partner and complete G, H, and I1 under Type of Partner. You should indicate whether a partner is a General or Limited partner, a Domestic or Foreign partner, and then select the Partner Type in the I1 drop list. The I1 drop list selection determines which columns have amounts (see below).

  • INDIVIDUAL - (individual active) flows to column (ii)
  • IND SMLLC - flows to column (ii) 
  • IND PASSIVE - (individual passive) flows to column (iii)
  • CORPORATION - flows to column (i) 
  • S CORPORATION - flows to column (i)
  • PARTNERSHIP - flows to column (iv)
  • DISREGARDED - flows to column (vi)
  • EST. DECEASED PTR - flows to column (vi)
  • ESTATE OTHER - flows to column (vi)
  • TRUST - flows to column (vi)
  • LLC - CORPORATION - flows to column (i)
  • LLC - PARTNERSHIP - flows to column (iv)
  • LLP - flows to column (iv)
  • EXEMPT ORG - flows to column (v)

Overrides are available on the Analysis of Net Income tab of screen K.

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