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.

The US Partnership Tax (Form 1065 / Schedule K-1) Partner’s Share Estimator is a valuable tool designed for partners in partnerships who want to accurately estimate their share of income, deductions, credits, and other tax items reported on Schedule K-1. Partnerships file Form 1065 annually, reporting overall business results, while each partner receives a Schedule K-1 outlining their individual tax responsibilities.

This estimator simplifies understanding your tax obligations by allowing you to input the partnership’s financial figures and your ownership percentage to calculate your proportional share of partnership income and expenses. It provides a detailed breakdown that helps you prepare your individual tax return accurately and avoid errors or miscalculations.

Partnership taxation can be complex due to the pass-through nature of income and varying allocation methods. Our tool accounts for these factors, giving you a clear picture of your taxable income, deductions, and credits flowing through from the partnership. This information is critical for tax planning, compliance, and financial forecasting.

The estimator is ideal for business partners, accountants, and tax advisors who need a quick and reliable method to analyze partner shares without manually sifting through detailed tax documents. By using this tool, you can improve accuracy, save time, and gain confidence in tax filing.

Whether you are new to partnerships or a seasoned partner, the US Partnership Tax Partner’s Share Estimator supports informed decision-making and efficient tax management. It ensures you understand your tax position based on the partnership’s financial data and IRS reporting requirements.