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I've just formed a general partnership in the US and I'm completely unclear about the tax requirements.

  • Do we file only once a year, or are we required to file quarterly?
  • When am I required to fill out and submit a 1065?
  • Does each partner fill out their own K1, and if not, who is responsible for doing it?
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  • I'm assuming you're from the US, since you're asking about 1065, which correlates to the IRS form 1065, which is a partnership information return. If I guessed wrong, and you're from another country (as most of the world in fact is), I do apologize and feel free to correct me. Generally, questions about laws require the poster to tell us what country's laws the question is about.
    – littleadv
    Commented Apr 16, 2015 at 5:58

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Do we file only once a year, or are we required to file quarterly?

Who are "we"? Partnership? Files annually. Partners? Depending on your situation, quarterly estimates may be required.

When am I required to fill out and submit a 1065?

Within 4 months and 15 days after the partnership's year-end. If all the partners are individuals, that would be by April 15th of the next year.

Does each partner fill out their own K1, and if not, who is responsible for doing it?

No, K-1 are part of the partnership's informational return to the IRS (Form 1065), copies of which go to the respective partners. The partnership is responsible for doing it (and each of the general partners, as being responsible for the partnership).

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  • Everything I've read so far says the 4th month and 15 days. Maybe I've missed some important side-note somewhere. Could you link to your source for that info?
    – kylex
    Commented Apr 16, 2015 at 21:17
  • You're right. 3 months is for corporations.
    – littleadv
    Commented Apr 17, 2015 at 2:54

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