IRS Form 1065 Partnership Tax Tool

US Partnership Tax (Form 1065 / Schedule K-1) Partner's Share Estimator

Enter Partnership Totals and Partner's Share

Enter the total amounts from the partnership's Form 1065 or Schedule K, and the partner's profit/loss sharing percentage. This tool estimates a partner's distributive share based on a simple percentage allocation.

Tax Year:

Partner's Profit/Loss Sharing Percentage (%):

Partnership Total Ordinary Business Income (Loss) ($):

Corresponds to Form 1065, Line 22; Schedule K, Line 1; Schedule K-1, Box 1.

Partnership Total Guaranteed Payments ($):

Corresponds to Form 1065, Line 10; Schedule K, Line 4; Schedule K-1, Box 4.

Partnership Total Net rental real estate income (loss) ($):

Corresponds to Schedule K, Line 2; Schedule K-1, Box 2.

Partnership Total Interest Income ($):

Corresponds to Schedule K, Line 5a; Schedule K-1, Box 5a.

Partnership Total Section 179 Deduction ($):

Corresponds to Schedule K, Line 13; Schedule K-1, Box 12, Code L.

Estimated Partner's Share

Enter details in the "Partnership & Partner Details" tab and click "Estimate Partner's Share".

Note on Partner's Distributive Share (U.S. Federal Form 1065 / Schedule K-1):

A partner's share of partnership income, deductions, gains, losses, etc., is determined by the partnership agreement and reported on Schedule K-1.
While often based on profit/loss sharing percentages, the actual allocation for specific items can vary due to complex partnership tax rules (e.g., special allocations, Section 704(b) regulations).
This tool provides an *estimation* based on a simple prorata allocation using the percentage you enter. It is NOT a substitute for the official Schedule K-1 provided by the partnership.

Disclaimer: This tool is for informational purposes only and does not constitute tax advice. Consult a qualified tax professional or refer to the official Schedule K-1 for accurate reporting.