Before starting the project, please note the following: 2021 tax returns will be
Before starting the project, please note the following: 2021 tax returns will be
Before starting the project, please note the following: 2021 tax returns will be prepared using 2020 forms/schedules in this course. Due to the timing of this course, the 2021 forms/schedules were not available yet. For the most part, Form 1120 does not change much from year to year, so this should not present an issue. Complete only the requested forms/schedules: Form 1065; Download Form 1065;Form 1125-A; Download Form 1125-A;Schedule B-1, Form 1065 Download Schedule B-1, Form 1065; Schedule K-1, Form 1065 (two required; one for each partner) Download Schedule K-1, Form 1065 (two required; one for each partner); Form 1065 Supporting Statement; Download Form 1065 Supporting Statement;and Form 1065, Schedule K-1, Line 20 Supporting Statement (two required; one for each partner) Download Form 1065, Schedule K-1, Line 20 Supporting Statement (two required; one for each partner). If a line of a form or schedule requests a different form/schedule that is not explicitly required as stated, you do NOT need to complete it. Certain lines will not need to be populated on the forms/schedules if the taxpayer did not have any activity related to the line. You are highly encouraged to reference the instructions for the forms. The instructions can be found at the IRS website (irs.gov (Links to an external site.)). However, once again, due to the fact that the 2021 forms/schedules are unavailable, be aware that some of the numbers/rules in the 2020 instructions may not be accurately reflected for 2021. Therefore, when in doubt, use the information in your e-textbook as a cross-reference. If any information is missing, use reasonable assumptions to fill in the gaps.

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