Schedule B (Form 1065) – Other Information

Form 1065b: Schedule B (Form 1065) – Other Information

Last reviewed: 2025-10-25

Use Tax Form 1065b: Schedule B (Form 1065) – Other Information as a stand alone tax form calculator to quickly calculate specific amounts for your 2026 tax return. Alternatively you can use one of our Combined Federal and State Tax Estimator to quickly calculate your salary, tax and take home pay.

Schedule B (Form 1065b) collects detailed information about a partnership’s ownership, structure, and filing requirements. This online tool for 2026 allows you to complete and review all relevant questions interactively, with automatic totals for yes/no answers. These details help determine whether additional schedules or IRS forms are required when filing the U.S. Return of Partnership Income.

How to complete Schedule B: Carefully answer each question to the best of your knowledge. The IRS uses this section to identify filing obligations such as Forms 5471, 8865, 8300, and 8990. Certain responses trigger additional disclosures for foreign accounts, ownership interests, or partnership elections. For multi-tiered partnerships, verify each partner’s entity type before completing this schedule.

Schedule B – Other Information (Form 1065)
1	What type of entity is filing this return?
2	Enter the total assets at the end of the tax year
3	Number of partners in the partnership
4	Does the partnership have any foreign partners?
5	Was the partnership required to file Form 8990, Limitation on Business Interest Expense?
6	Did the partnership make any payments that require it to file Form 1099?
7	Is the partnership a publicly traded partnership (PTP)?
8	At any time during the tax year, did the partnership have an interest in or signature authority over a foreign account?
9	Was the partnership required to file Form 8300 for cash payments received?
10	Enter the total of lines 1 through 9
11	Was the partnership subject to the centralized partnership audit regime under section 6221(a)?	Yes	No
12	Did the partnership elect out of the centralized partnership audit regime?	Yes	No
13	Does the partnership own any foreign partnerships?	Yes	No
14	Is the partnership a partner in another partnership?	Yes	No
15	Did the partnership make any payments to a foreign trust or have ownership in one?	Yes	No
16	Did the partnership receive distributions from a foreign corporation?	Yes	No
17	Is the partnership required to file Form 5471 or 8865?	Yes	No
18	Is any partner a disregarded entity, trust, or nominee?	Yes	No
19	Does the partnership have any reportable transactions under section 6011?	Yes	No
20	Was any partner a disregarded entity or grantor trust during the year?	Yes	No
21	Does the partnership have a tax-exempt partner?	Yes	No
22	Does the partnership own 20% or more of the stock in any corporation?	Yes	No
23	Has the partnership elected under section 754 to adjust the basis of partnership property?	Yes	No
Total Yes responses:
Total No responses:

Filing notes for 2026: The IRS requires all partnerships to maintain documentation supporting their Schedule B responses, especially regarding audit elections under section 6221(a) and ownership of foreign entities. Partnerships that elect out of the centralized partnership audit regime must attach a valid election statement and provide partner details. Always reconcile these disclosures with entries on Schedules K, L, and M-1.

Last reviewed: 2025-10-25: If you believe this form requires an update, please contact us.

Purpose of Schedule B (Form 1065b)

Schedule B ensures compliance with various reporting requirements that extend beyond basic income or deduction reporting. The form identifies whether a partnership has foreign or tax-exempt partners, owns interests in other entities, or must file additional international information returns. It also captures critical elections like the section 754 basis adjustment. Completing this section accurately minimizes IRS correspondence and improves the accuracy of partner K-1 statements.

For official guidance, refer to the IRS Instructions for Form 1065 and verify that your responses align with federal partnership reporting standards.

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