Modify Form 1065 Records

Once the report has been created, any changes to it can be made using the modify 1065 File screen.

Year
The year of the 1065.

Program Code
The code of the program that the 1065 is for.

Begin Date
The date the partnership began.

Gross Income
The total amount of income received for the year.

Taxes
The taxes paid on the gross income.

Depreciation
Depreciation being claimed by the partnership.

Deductions
The total amount of deductions for the year.

IDC Costs
Intangible drilling costs for the partnership.

Ordinary Income
Enter the ordinary income (loss) shown on Schedule K-1 (Form 1065) or Schedule K-1 (Form 1041), or other ordinary income (loss from a foreign partnership, estate or trust).