Form 1065 - U.s. Return Of Partnership Income - 2017 Page 5

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5
Form 1065 (2017)
Page
Analysis of Net Income (Loss)
Net income (loss). Combine Schedule K, lines 1 through 11. From the result, subtract the sum of
1
Schedule K, lines 12 through 13d, and 16l .
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Analysis by
(ii) Individual
(iii) Individual
(v) Exempt
(vi)
(i) Corporate
(iv) Partnership
partner type:
(active)
(passive)
Organization
Nominee/Other
a General partners
b Limited partners
Balance Sheets per Books
Schedule L
Beginning of tax year
End of tax year
(a)
(b)
(c)
(d)
Assets
1
Cash
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2a Trade notes and accounts receivable .
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b Less allowance for bad debts .
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3
Inventories
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U.S. government obligations
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Tax-exempt securities
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6
Other current assets (attach statement) .
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7a Loans to partners (or persons related to partners)
b Mortgage and real estate loans
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8
Other investments (attach statement) .
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9a Buildings and other depreciable assets .
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b Less accumulated depreciation
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10a Depletable assets .
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b Less accumulated depletion
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11
Land (net of any amortization) .
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12a Intangible assets (amortizable only)
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b Less accumulated amortization
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Other assets (attach statement)
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Total assets .
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Liabilities and Capital
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Accounts payable .
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16
Mortgages, notes, bonds payable in less than 1 year
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Other current liabilities (attach statement)
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18
All nonrecourse loans .
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19a
Loans from partners (or persons related to partners)
b
Mortgages, notes, bonds payable in 1 year or more
20
Other liabilities (attach statement) .
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21
Partners’ capital accounts
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22
Total liabilities and capital
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Schedule M-1
Reconciliation of Income (Loss) per Books With Income (Loss) per Return
Note. The partnership may be required to file Schedule M-3 (see instructions).
1
Net income (loss) per books .
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Income recorded on books this year not included
on Schedule K, lines 1 through 11 (itemize):
2
Income included on Schedule K, lines 1, 2, 3c,
a Tax-exempt interest $
5, 6a, 7, 8, 9a, 10, and 11, not recorded on
books this year (itemize):
Guaranteed
payments
(other
than
3
7
Deductions included on Schedule K, lines
health insurance) .
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1 through 13d, and 16l, not charged
against book income this year (itemize):
4
Expenses recorded on books this year
not included on Schedule K, lines 1
a Depreciation $
through 13d, and 16l (itemize):
a Depreciation $
8
Add lines 6 and 7 .
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b Travel and entertainment $
Income (loss) (Analysis of Net Income
9
(Loss), line 1). Subtract line 8 from line 5 .
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Add lines 1 through 4 .
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Analysis of Partners’ Capital Accounts
Schedule M-2
1
Balance at beginning of year
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Distributions: a Cash
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b Property
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Capital contributed: a Cash
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Other decreases (itemize):
b Property
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Net income (loss) per books .
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Other increases (itemize):
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8
Add lines 6 and 7 .
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Add lines 1 through 4 .
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Balance at end of year. Subtract line 8 from line 5
1065
Form
(2017)

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