IRS Form 1065 PDF & Fillable Version: How to Download and Use? (2026 Guide)

IRS Form 1065 PDF & Fillable Version – Partnerships, LLCs taxed as partnerships, and other pass-through entities must report income, deductions, gains, losses, and credits using IRS Form 1065 for tax year 2025. Partnerships do not pay federal income tax themselves—the form serves as an information return that passes items through to partners via Schedule K-1.

The official 2025 Form 1065 is now available as a free, fillable PDF directly from the IRS. This comprehensive guide provides everything you need for accurate filing, including direct download links, key changes for 2025, deadlines, e-filing rules, and tips.

Download the official 2025 Form 1065 PDF here:
Form 1065 (2025) – IRS.gov (Released November 25, 2025)

Full Instructions PDF:
Instructions for Form 1065 (2025)

About Form 1065 page (latest updates): IRS.gov/forms-pubs/about-form-1065

What Is IRS Form 1065?

Form 1065 reports a partnership’s financial activity for the tax year. It includes:

  • Income and deductions on page 1
  • Schedule B (other information questions, including ownership, foreign accounts, digital assets, and elections)
  • Schedule K (partners’ distributive share totals)
  • Schedules L, M-1, M-2 (balance sheet, reconciliations, and capital account analysis)
  • One Schedule K-1 per partner (partner’s share of income, deductions, credits, etc.)

Partners use their K-1 to report items on personal returns (Form 1040, etc.).

Related forms often required:

  • Schedule K-1 (Form 1065): Download PDF
  • Schedules K-2 & K-3 (international items)
  • Schedule D (capital gains/losses)
  • Form 8825 (rental real estate)
  • Form 8996 (Qualified Opportunity Fund)

Who Must File Form 1065 for Tax Year 2025?

  • Domestic partnerships (general, limited, LLPs, LLCs classified as partnerships)
  • Foreign partnerships with U.S. source or effectively connected income (with exceptions)
  • Syndicates, pools, or joint ventures (unless electing out under section 761(a))
  • Qualified opportunity funds (even with no activity)

Exceptions:

  • Partnerships with no income or expenses
  • Qualified joint ventures (elect out and report on joint Form 1040)
  • Publicly traded partnerships taxed as corporations (file Form 1120)

2025 Filing Deadline

  • Calendar-year partnerships: March 15, 2026 (or next business day)
  • Fiscal-year partnerships: 15th day of the 3rd month after year-end
  • Extension: File Form 7004 for a 6-month automatic extension

Important: Furnish Schedule K-1 to each partner by the due date (including extensions). Late K-1 penalties start at $340 per form.

Is the 2025 Form 1065 Fillable?

Yes — The official IRS PDF is fully fillable.
Download Adobe Acrobat Reader (free) → open the PDF → click in any field to type. Save your progress, print, or attach for e-filing.

Pro tips for filling:

  • Use the latest version from IRS.gov only
  • Round to whole dollars
  • Attach statements for additional details (name/EIN on each)
  • For paper filing, use black ink and print clearly

Third-party tools (pdfFiller, etc.) offer online editing, but always start with the official IRS file for compliance.

Key Changes & Updates for Tax Year 2025

From the official Instructions for Form 1065 (2025):

  • New legislation (P.L. 119-21 – One Big Beautiful Bill Act):
    • Section 174A allows current deduction (or 60-month amortization) for domestic R&E expenditures after 2024
    • Expanded section 181 for qualified sound recording production costs (new code X on Schedule K/K-1, box 13)
    • New section 1062 election for qualified farmland sales (installment tax payment over 4 years – code ZZ on K-1 box 20)
  • Direct deposit for overpayments — New fields on line 32 for faster refunds
  • Digital assets reporting — Expanded Schedule B questions on crypto, NFTs, mining, staking
  • Distributions on Schedule K/K-1 — Additional coding for different distribution categories
  • IRA partners — EIN required for UBTI allocations (code AR, box 20)
  • Electronic payments mandatory transition — Checks discouraged; use IRS Direct Pay or EFTPS
  • Vehicle lease inclusion amounts updated (e.g., $64,000 threshold for autos)

Schedules K-2/K-3 exceptions expanded for certain domestic partnerships (see IRS notice).

Electronic Filing Requirements (Mandatory in Most Cases)

  • Required if the partnership files 10+ returns of any type or has >100 partners
  • Use IRS Modernized e-File system
  • Waivers available for hardship or religious exemptions
  • E-filed returns must include “e-filed” in Schedule K-1 Item C

How to File Form 1065 Step-by-Step (Overview)?

  1. Gather financial statements, partner info, and prior-year return
  2. Complete page 1 (income/deductions)
  3. Answer Schedule B questions (critical for compliance)
  4. Prepare Schedule K and individual K-1s
  5. Attach required schedules/forms
  6. Sign (any partner or authorized LLC member)
  7. E-file or mail to the correct IRS center (see instructions for address)

Assembly order: Follow the detailed list in the instructions (Form 1065 pages first, then attachments, then K-1 copies for IRS).

Common Mistakes to Avoid

  • Using an old-year form
  • Missing Schedule K-1 for every partner
  • Incorrect partner basis/at-risk/passive activity tracking
  • Failing to report digital assets or foreign accounts
  • Late K-1 distribution

Penalties: $255 per month per partner for late filing (max 12 months); higher for K-1 failures.

FAQs About IRS Form 1065 2025

Where can I get the fillable PDF?
Direct from IRS.gov (links above). Never use unofficial sites.

Do I need to file Schedules K-2 and K-3?
Only if the partnership has international items and does not qualify for the domestic filing exception.

Can I amend a 2025 return later?
Yes, use Form 1065-X (Amended Return or AAR).

Is there software for partnerships?
Yes—popular tax software (TurboTax Business, Lacerte, UltraTax, etc.) automates Form 1065 + K-1 generation and e-filing.

Final Tips & Resources

  • Always check IRS.gov/Form1065 for future developments
  • Partnership Representative (PR) designation required under BBA regime
  • Track partner capital accounts on tax basis (Schedule M-2)
  • Consult a tax professional for complex partnerships, international items, or QBI deductions

Download your 2025 Form 1065 and instructions today from the official IRS links above. Filing accurately and on time avoids penalties and ensures your partners receive correct K-1s.

All information sourced directly from IRS.gov (as of February 2026). Tax laws can change—verify the latest at IRS.gov before filing.

This guide is for informational purposes only and is not tax advice. Consult a qualified tax professional for your specific situation.