How to File Form 1065 for 2022 - Restaurant Example

In this video tutorial, I cover all of the steps to file a simple Form 1065 partnership tax return for the 2022 tax year. The sample company is an LLC operating a restaurant in Florida. The LLC is owned by two individuals (John & Jane), and they actively participate in the management of the LLC.
The LLC Form 1065 covers the following elements:
1. Two-member LLC taxed as a partnership for federal tax purposes.
2. Complete the full Form 1065 (Pages 1 through 5).
3. Form 1125-A for Cost of Goods Sold (COGS).
4. Schedule B-1 for greater than 50% of ownership.
5. Schedule B-2 electing out of Centralized Partnership Audit Regime.
6. Form 4562 for Bonus Depreciation.
7. Schedules K-1, K-2 & K-3.
8. Basis worksheets for Partners.
9. De minimis safe harbor elections Treas Reg. 1.263(a)-1(f).
For more Form 1065 tutorials for different businesses, see the following playlist:
• Form 1065 (Partnership...
Other videos for Partnership Tax Filings:
Schedule K-2 & K-3 Filing Exceptions: • Schedule K-2 & K-3: Do...
Schedule B-1 Ownership: • Form 1065 Schedule B-1...
Schedule B-2: • How to Elect Out of th...
Form 8825 Rentals: • How to Complete IRS Fo...
Unreimbursed Partnership Expenses: • How to Record your Unr...
Recourse vs Nonrecourse Debt: • Recourse vs Nonrecours...
Deducting Business Gifts: • Can Business Gifts Be ...
Foreign Owned LLC Form 1065: • Foreign Owned Multi-Me...
Foreign Owned LLC Partnership Pay No Tax: • Foreign Owned Multi-Me...
Do I Need a Form 1065 If I Lost Money: • Do I Need to File a Fo...
Am I Liable for Self-Employment Tax: • Do I Pay Self-Employme...
Conversion of DRE to Partnership: • Automatic Conversion o...
Schedule K-2 and K-3 Tutorials for Various Types of Partnerships
Tutorial 1: U.S. Partnership LLC with Foreign DRE & No ECI
1. Intro & Fact Pattern: • Schedule K-2 & K-3 wit...
2. Form 1065 Pages 1 to 5: • Schedule K-2 & K-3 wit...
3. Schedule K-2: • Schedule K-2 & K-3 wit...
4. Schedule K-3: • Schedule K-2 & K-3 wit...
Tutorial 2: U.S. Partnership LLC with Foreign DRE and U.S. ECI
1. Intro & Fact Pattern: • Schedule K-2 & K-3 wit...
2. Form 1065 Pages 1 to 5: • Schedule K-2 & K-3 wit...
3. Schedule K-2: • Schedule K-2 & K-3 wit...
4. Schedule K-3: • Schedule K-2 & K-3 wit...
Tutorial 3: U.S. Investment Fund LP with U.S. FDAP Income
1. Intro & Fact Pattern: • Schedule K-2 and K-3 I...
2. Form 1065 Pages 1 to 5: • Schedule K-2 and K-3 I...
3. Schedule K-2: • Schedule K-2 and K-3 I...
4. Schedule K-3: • Schedule K-2 and K-3 I...
For a larger database of tutorials, please visit our website and search for your question:
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