Form 1065 is the U.S. federal tax return used by partnerships to report their income, deductions, gains, and losses to the Internal Revenue Service (IRS). This form is essential for partnerships as it allows them to provide detailed financial information without being taxed at the entity level, since partnerships are pass-through entities where profits and losses are reported on the individual partners' tax returns.
congrats on reading the definition of Form 1065. now let's actually learn it.