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Schedule b-1 1065 2024 Form: What You Should Know

For partnership tax returns filed in 2018, you can substitute Schedule K-1P from the Schedules for Partnership Income Tax instead of Form 1065. The K-1P replaces the 2024 Form 1065 with: Schedule K-1P (Form 1065), Payment to Partner The 2024 Schedule K-1P does not include Form 1065, but instead provides you with two separate schedules. As soon as you have completed the K-1P, you can use it to figure the partnership tax you owe. For information, see Schedule K-1P (Form 1065) for the 2024 and 2024 tax years — IL.gov. Partnerships and S Corporations must use a Schedule B-1 to report and pay both partnership income and tax. Other Forms 1065 have been adjusted in 2024 for 2024 income and tax.

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