Form 565 - Partnership Return Of Income - 2007 Page 2
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Schedule A Cost of Goods Sold
00
inventory at beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
00
2 purchases less cost of items withdrawn for personal use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3 Cost of labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
00
00
4 Additional irC Section 263A costs . Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
00
5 other costs . Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
00
6 Total . Add line 1 through line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
00
7 inventory at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
00
8 Cost of goods sold . Subtract line 7 from line 6 . Enter here and on Side 1, line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
9 a Check all methods used for valuing closing inventory:
()
Cost
(2)
Lower of cost or market as described in treas . reg . Section 1 .471-4
(3)
Write down of “subnormal” goods as
described in treas . reg . Section 1 .471-2(c)
(4)
other . Specify method used and attach explanation ___________________________
b Check this box if the LiFo inventory method was adopted this taxable year for any goods . if checked, attach federal Form 970 . . . . . . . .
c Do the rules of irC Section 263A (with respect to property produced or acquired for resale) apply to the partnership? . . . . . . . . . . . . . . .
Yes
No
d Was there any change (other than for irC Section 263A purposes) in determining quantities, cost, or valuations between opening
and closing inventory? if “Yes,” attach explanation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
J What type of entity is filing this return? Check one only:
General partnership
2
Limited partnership required to pay annual tax (is doing business in California, is registered with SoS, or is organized in California)
3
Limited partnership, limited liability company (LLC), or other entity Not required to pay annual tax (is not doing business in California, is not
registered with SoS, and is not organized in California)
4
rEMiC
5
Limited liability partnership
6
other (See instructions)_____________________________________________________________________________________________
K Enter the maximum number of partners in this partnership at any time during the year . (Be sure to attach a California
Schedule K-1 (565) for each partner) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
L is any partner of the partnership related by blood or marriage to any other partner? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
M is any partner of the partnership a trust for the benefit of any person related by blood or marriage to any other partner? . . . . . . . . . . . .
N Are any partners in this partnership also partnerships or LLCs? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
O Does the partnership meet all the requirements shown in the instructions for Question o? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
P is this partnership a partner in another partnership or LLC? if “Yes,” attach a statement with the name(s) and FEiN(s) of each entity . . . .
Q Was there a distribution of property or transfer (for example by sale or death) of a partnership interest during the taxable year?
if “Yes,” see the federal instructions concerning an election to adjust the basis of the partnership’s assets under irC Section 754 . . . .
R is this partnership a publicly traded partnership as defined in irC Section 469(k)(2)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S is this partnership under audit by the irS or has it been audited in a prior year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
T () For this taxable year, was there a change in control or majority ownership for this partnership (or any legal entity in which it holds
a controlling or majority interest) that owned or leased real property in California? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) For this taxable year, did this partnership (or any legal entity in which it holds a controlling or majority interest) acquire control or
majority ownership of any other legal entity that owned or leased real property in California? . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) if this partnership (or any legal entity in which it holds a controlling or majority interest) owned or leased real property in California,
has more than 50 percent of the partnerships interest cumulatively transferred in one or more transactions since March 1, 1975,
which was not reported on a previous year’s tax return? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(Penalties May Apply – See Instructions.)
U () Does the partnership have any foreign nonresident partners? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) Does the partnership have any nonresident partners? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) Were Form 592, Form 592-A, and Form 592-B filed for these partners? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
V is this an investment partnership? See General information o, investment partnerships, in the instructions . . . . . . . . . . . . . . . . . . . . . .
W is the partnership apportioning income to California using Schedule r? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
X Has the partnership included a reportable transaction or Listed transaction with this return?
(See instructions for definitions .) if “Yes,” complete and attach Form 8886 for each transaction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Y Did this partnership file the Federal Schedule M-3 (Form 1065)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Z is this partnership a direct owner of an entity that filed a federal Schedule M-3? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
AA Does this partnership have a beneficial interest in a trust or is it a grantor of a trust? Attach name, address, and FEiN . . . . . . . . . . . . .
Side 2 Form 565
2007
3662073
C1
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