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California Free Printable 2020 California Form 565 Partnership Return of Income for 2021 California Partnership Return of Income

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Partnership Return of Income
2020 California Form 565 Partnership Return of Income

TAXABLE YEAR CALIFORNIA FORM Partnership Return of Income 2020 565 For calendar year 2020 or fiscal year beginning and ending (m m / d d / y Partnership name (type or print) Check box if name changed y y y) . (m m / d d / y • y y y) RP A FEIN • B California Secretary of State (SOS) file number Additional information • Street address (suite, room, PO box) PMB no. City (If the partnership has a foreign address, see instructions.) State Foreign country name Foreign province/state/county E Check accounting method • (1) • Cash (2) (1) I (1) • Initial return (2) F Date business started in CA (m m / d d / y y y y) • Accrual H Check the applicable box • ZIP code (2) (3) • Other (attach explanation) • • FINAL RETURN (3) • Amended return Foreign postal code G • (4) Enter total assets at end of year. See instructions. $ • Protective claim During this taxable year, did another person or legal entity acquire control or majority ownership (more than a 50% interest) of this partnership or any legal entity in which the partnership holds a controlling or majority interest that owned California real property (i .e ., land, buildings), leased such property for a term of 35 years or more, or leased such property from a government agency for any term? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • • Yes • No During this taxable year, did this partnership acquire control or majority ownership (more than a 50% interest) in another legal entity that owned California real property (i .e ., land, buildings), leased such property for a term of 35 years or more, or leased such property from a government agency for any term? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • • Yes • No • • Yes • No (3) During this taxable year, has more than 50% of the partnership’s ownership interests cumulatively transferred in one or more transactions after an interest in California real property (i .e ., land, buildings) was transferred to it that was excluded from property tax reassessment under Revenue and Taxation Code Section 62(a)(2) and it was not reported on a previous year’s tax return? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (Yes requires filing of statement, penalties may apply – see instructions.) Deductions Enclose, but do not staple, any payment Income Caution: Include only trade or business income and expenses on line 1a through line 22 . See the instructions for more information . • 1 2 3 4 5 6 7 8 9 10 11 12 a Gross receipts or sales $ ____________ b Less returns and allowances $ _____________ . . . . . c Balance Cost of goods sold (Schedule A, line 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . GROSS PROFIT . Subtract line 2 from line 1c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total ordinary income from other partnerships and fiduciaries . Attach schedule . . . . . . . . . . . . . . . . . . . . . . . Total ordinary loss from other partnerships and fiduciaries . Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . Total farm profit . Attach federal Schedule F (Form 1040) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total farm loss . Attach federal Schedule F (Form 1040) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total gains included on Schedule D-1, Part II, line 17 (gain only) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total losses included on Schedule D-1, Part II, line 17 (loss only) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other income . Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other loss . Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total income (loss) . Combine line 3 through line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1c 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Salaries and wages (other than to partners) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Guaranteed payments to partners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Bad debts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Deductible interest expense not claimed elsewhere on return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a Depreciation and amortization . Attach form FTB 3885P $ ______________ b Less depreciation reported on Schedule A and elsewhere on return $ ________________ . . . . . c Balance • 13 14 15 16 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 • 17c 00 • • • • • • • • • • 3661203 Form 565 2020 Side 1 (cont.) Deductions 18 Depletion . Do not deduct oil and gas depletion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 19 Retirement plans, etc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 20 Employee benefit programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 21 Other deductions . Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 22 Total deductions . Add line 13 through line 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 00 00 00 00 00 23 23 00 24 25 26 00 29 00 Payments 24 25 26 27 28 29 30 Amount Due or Refund 31 32 33 34 35 • • Ordinary income (loss) from trade or business activities . Subtract line 22 from line 12 . . . . . . . . . . . . . . . . . . • Tax — $800.00 (LPs, LLPs, and REMICs only). See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Partnership level tax . If IRS concluded a centralized audit for this year, see instructions . If not, leave blank . . . • Total tax. Add line 24 and line 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Withholding (Form 592-B and/or 593) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • 27 00 Amount paid with extension of time to file return (form FTB 3538) . . . . . . . . • 28 00 Total payments . Add line 27 and line 28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Use tax. This is not a total line. See instructions . . . . . . . . . . . . . . . . . . . . . • 30 00 Payments balance . If line 29 is more than line 30, subtract line 30 from line 29 . . . . . . . . . . . . . . . . . . . . . . . . • Use tax balance. If line 30 is more than line 29, subtract line 29 from line 30 . . . . . . . . . . . . . . . . . . . . . . . . . • Tax due . If line 26 is more than line 31, subtract line 31 from line 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Refund . If line 31 is more than line 26, subtract line 26 from line 31 . . . . . . . . . . . . . . . . . . . . .• 34 Penalties and interest . See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • 36 Total amount due . Add line 32, line 33, and line 35 . Make the check or money order payable to the Franchise Tax Board . . . . . . . . . . . . . . . . . . . . . Schedule A • 00 00 31 00 32 00 33 . 00 00 00 35 . 36 00 Cost of Goods Sold 1 Inventory at beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Purchases less cost of items withdrawn for personal use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Cost of labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Additional IRC Section 263A costs . Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Other costs . Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Total . Add line 1 through line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Inventory at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 00 00 00 00 00 00 00 8 Cost of goods sold . Subtract line 7 from line 6 . Enter here and on Side 1, line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 00 9 a Check all methods used for valuing closing inventory: (1) •  Cost (2) • Lower of cost or market as described in Treas . Reg . Section 1 .471-4 (3) • Write down of “subnormal” goods as described in Treas . Reg . Section 1 .471-2(c) (4) • Other . Specify method used and attach explanation ___________________________ b Check this box if the LIFO inventory method was adopted this taxable year for any goods . If checked, attach federal Form 970 . . . . . . . . •  c Do the rules of IRC Section 263A (with respect to property produced or acquired for resale) apply to the partnership? . . . . . . . . . . . . . . • Yes • No d Was there any change (other than for IRC Section 263A purposes) in determining quantities, cost, or valuations between opening and closing inventory? If “Yes,” attach explanation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Yes • No J What type of entity is filing this return? Check one only: • 1 • 3 • 4 • • • General partnership • 2 • LP required to pay annual tax (is doing business in CA, is registered with SOS, or is organized in CA) LP, LLC, or other entity NOT required to pay annual tax (is not doing business in CA, is not registered with SOS, and is not organized in CA) REMIC • 5 • LLP • 6 • Other (See instructions) K Principal business activity code (Do not leave blank) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Business activity ________________________ Product or service _____________________________ L Enter the maximum number of partners in this partnership at any time during the year . Attach a CA Sch . K-1 (565) for each partner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . M • • Is any partner of the partnership related (as defined in IRC Section 267(c)(4)) to any other partner? . . . . . . . . . . . . . . . . . . . . . . . • N Is any partner of the partnership a trust for the benefit of any person related (as defined in IRC Section 267(c)(4)) to any other partner? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • O Are any partners in this partnership also partnerships or LLCs? If “Yes,” complete Schedule K-1, Table 3 for each . . . . . . . . . . . . • Side 2 Form 565 2020 3662203 • Yes • No • Yes • No • Yes • No P Does the partnership meet all the requirements shown in the instructions for Question P? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Q Is this partnership a partner in another partnership or multiple member LLC? If “Yes,” complete Schedule EO, Part I . . . . . . . . . . R Was there a distribution of property or transfer (for example by sale or death) of a partnership interest during the taxable year? . If “Yes,” see the federal instructions concerning an election to adjust the basis of the partnership’s assets under IRC Section 754 • • S Is this partnership a publicly traded partnership as defined in IRC Section 469(k)(2)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . T Is this partnership under audit by the IRS or has it been audited in a prior year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • (2) Does the partnership have any domestic (non-foreign) nonresident partners? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • (3) Were Form 592, Form 592-A, Form 592-B, Form 592-F, and Form 592-PTE filed for these partners? . . . . . . . . . . . . . . . . . . • Is this an investment partnership? See General Information O, Investment Partnerships, in the instructions . . . . . . . . . . . . . . . . . • Is the partnership apportioning or allocating income to California using Schedule R? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Has the partnership included a Reportable Transaction or Listed Transaction within this return? . . . . . . . . . . . . . . . . . . . . . . . . . . • U (1) V W X • Does the partnership have any foreign (non U .S .) nonresident partners? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (See instructions for definitions .) If “Yes,” complete and attach federal Form 8886 for each transaction . Y Did this partnership file the Federal Schedule M-3 (Form 1065)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • • AA Does this partnership have a beneficial interest in a trust or is it a grantor of a trust? Attach name, address, and FEIN . . . . . . . . . • BB Does this partnership own an interest in a business entity disregarded for tax purposes? If “Yes,” complete Schedule EO, Part II . • CC (1) Is the partnership deferring any income from the disposition of assets? (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . • Z Is this partnership a direct owner of an entity that filed a federal Schedule M-3? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2) If “Yes,” enter the year of asset disposition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DD Is the partnership reporting previously deferred income from: EE “Doing business as” name . See instructions: FF (1) • • Installment Sale • • IRC §1031 • GG (1) (2) • Yes • Yes • Yes • Yes • Yes • Yes • Yes • Yes • No • No • No • No • No • No • No • No • Yes • Yes • Yes • Yes • Yes • No • No • No • No • No • • IRC §1033 • • Other • ____________________________________________________________________ Has this partnership operated as another entity type such as a Corporation, S Corporation, General Partnership, Limited Partnership, LLC or Sole Proprietorship in the previous five (5) years? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2) • Yes • No • Yes • No • Yes • No • • Yes • No If “Yes”, provide prior FEIN(s) if different, business name(s), and entity type(s) for prior returns filed with the FTB and/or IRS . (see instructions): _______________________________________________________________________________________ • . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Has this partnership previously operated outside California? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Is this the first year of doing business in California? • Yes • No • Yes • No To learn about your privacy rights, how we may use your information, and the consequences for not providing the requested information, go to ftb.ca.gov/forms and search for 1131 . To request this notice by mail, call 800 .852 .5711 . Sign Here Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete . Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge . Date Signature of Telephone general partner ▶ General Partner’s email address (optional) Paid Paid Preparer’s Prepar- signature ▶ er’s Use Firm’s name (or yours if self-employed) and address Only ▶ Date Telephone •   Check if self-employed •• • May the FTB discuss this return with the preparer shown above (see instructions)?. . . . . . . . . . . . . . . . . . . . . . . . . . . . 3663203 PTIN Firm’s FEIN • • • Yes • No Form 565 2020 Side 3 Schedule K Partners’ Shares of Income, Deductions, Credits, etc. Deductions Income (Loss) (a) Distributive share items 1 Ordinary income (loss) from trade or business activities . . . . . . . . . . . . . . . . . 2 Net income (loss) from rental real estate activities . Attach federal Form 8825 . . . . . 3 a Gross income (loss) from other rental activities . . . . . . . . . . . . . . . . . . . b Less expenses . Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Net income (loss) from other rental activities . Subtract line 3b from line 3a 4 Guaranteed payments to partners . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  5 Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Royalties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Net short-term capital gain (loss) . Attach Schedule D (565) . . . . . . . . . . . . 9 Net long-term capital gain (loss) . Attach Schedule D (565) . . . . . . . . . . . . . 10 a Total gain under IRC Section 1231 (other than due to casualty or theft) . . . b Total loss under IRC Section 1231 (other than due to casualty or theft) . . . 11 a Other portfolio income (loss) . Attach schedule . . . . . . . . . . . . . . . . . . . . b Total other income . Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Total other loss . Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Expense deduction for recovery property (IRC Section 179) . Attach schedule 13 a Charitable contributions . See instructions . Attach schedule . . . . . . . . . . Alternative Minimum Tax (AMT) Items Credits 15 17 Other Information 18 19 20 1 2 3a 3b 3c 4 5 6 7 8 9 10a 10b 11a 11b 11c 12 13a b Investment interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c 1 Total expenditures to which IRC Section 59(e) election may apply . . . . . . . 2 Type of expenditures • _____________________________________ d Deductions related to portfolio income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . e Other deductions . Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a Withholding on partnership allocated to all partners . . . . . . . . . . . . . . . . . . . b Low-income housing credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Credits other than the credit shown on line 15b related to rental real estate activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . d Credits related to other rental activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . e Nonconsenting nonresident members’ tax allocated to all partners . . . . . . . . f Other credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a Depreciation adjustment on property placed in service after 1986 . . . . . . . . . b Adjusted gain or loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Depletion (other than oil and gas) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . d Gross income from oil, gas, and geothermal properties . . . . . . . . . . . . . . . . e Deductions allocable to oil, gas, and geothermal properties . . . . . . . . . . . . . f Other alternative minimum tax items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a Tax-exempt interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Other tax-exempt income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Nondeductible expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a Distributions of money (cash and marketable securities) . . . . . . . . . . . . . . . b Distribution of property other than money . . . . . . . . . . . . . . . . . . . . . . . . . . . a Investment income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Investment expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Other information . See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • (b) Amounts from federal K (1065) (c) California adjustments • • • • • • • • • • • • • • • 13b 13c1 13c2 13d 13e 15a 15b • • • • • • • • 15c 15d 15e 15f 17a 17b 17c 17d 17e 17f 18a 18b 18c 19a 19b 20a 20b 20c • • • • • • • • • • • • • • • Analysis 21 a Total distributive income/payment items . Combine lines 1, 2, and 3c through 11c . b (a) Analysis by type of partner: (1) General partners (2) Limited partners Side 4 Form 565 2020 • • Corporate • 21a From the result, subtract the sum of lines 12 through 13e . . . . . . . . . . . . . . . . . . . (b) Individual • • i. Active • • ii. Passive 3664203 • • • • (d) Total amounts using California law • • (c) (d) (e) Partnership Exempt Organization Nominee/Other • • • • Schedule L Balance Sheets. See the instructions for Question P before completing Schedules L, M-1, and M-2 . Beginning of income year Assets (a) (b) 1 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 a Trade notes and accounts receivable . . . . . . . . . . ) b Less allowance for bad debts . . . . . . . . . . . . . . . . ( 3 4 5 6 7 8 9 End of income year (c) ( (d) ) Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . U .S . government obligations . . . . . . . . . . . . . . . . . . . Tax-exempt securities . . . . . . . . . . . . . . . . . . . . . . . . Other current assets . Attach schedule . . . . . . . . . . . . Mortgage and real estate loans . . . . . . . . . . . . . . . . . Other investments . Attach schedule . . . . . . . . . . . . . . a Buildings and other depreciable assets . . . . . . . . ) ( ) b Less accumulated depreciation . . . . . . . . . . . . . . ( 10 a Depletable assets . . . . . . . . . . . . . . . . . . . . . . . . . ) ( ) b Less accumulated depletion . . . . . . . . . . . . . . . . . ( 11 Land (net of any amortization) . . . . . . . . . . . . . . . . . . 12 a Intangible assets (amortizable only) . . . . . . . . . . . ) ( ) b Less accumulated amortization . . . . . . . . . . . . . . ( 13 Other assets . Attach schedule . . . . . . . . . . . . . . . . . . 14 Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Liabilities and Capital 15 Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Mortgages, notes, bonds payable in less than 1 year 17 Other current liabilities . Attach schedule . . . . . . . . . . 18 All nonrecourse loans . . . . . . . . . . . . . . . . . . . . . . . . 19 Mortgages, notes, bonds payable in 1 year or more . 20 Other liabilities . Attach schedule . . . . . . . . . . . . . . . . 21 Partners’ capital accounts . . . . . . . . . . . . . . . . . . . . . 22 Total liabilities and capital . . . . . . . . . . . . . . . . . . . . . Schedule M-1 Reconciliation of Income (Loss) per Books With Income (Loss) per Return. Use total amount under California law . If the partnership completed federal Schedule M-3 (Form 1065), see instructions . • • • • • • • • • • • • 6 Income recorded on books this year not included 1 Net income (loss) per books . . . . . . . . . . . . . . . . . . . • on Schedule K, line 1 through line 11c . Itemize: 2 Income included on Schedule K, line 1 through a Tax-exempt interest . . . . . . . . • $ line 11c, not recorded on books this year . b Other . . . . . . . . . . . . . . . . . . . • $ Itemize . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • c Total . Add line 6a and line 6b . . . . . . . . . . . . . . . . 3 Guaranteed payments (other than health insurance) . . 7 Deductions included on Schedule K, line 1 through 4 Expenses recorded on books this year not line 13e, not charged against book included on Schedule K, line 1 through income this year . Itemize: line 13e . Itemize: a Depreciation . . . . . . . . . . . . . • $ a Depreciation . . . . . . . . . . . . . • $ b Other . . . . . . . . . . . . . . . . . . . • $ b Travel and entertainment . . . . • $ c Total . Add line 7a and line 7b . . . . . . . . . . . . . . . . c Limited partnership tax . . . . . • $ 8 Total . Add line 6c and line 7c . . . . . . . . . . . . . . . . . . . . . . d Other . . . . . . . . . . . . . . . . . . . • $ 9 Income (loss) (Schedule K, line 21a) . Subtract e Total . Add line 4a through line 4d . . . . . . . . . . . . . . line 8 from line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . • 5 Total of line 1 through line 4e . . . . . . . . . . . . . . . . . . . . . Schedule M-2 Analysis of Partners’ Capital Accounts. Use California amounts . • • • • 1 Balance at beginning of year . . . . . . . . . . . . . . . . . . . • 2 Capital contributed during year: a Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Net income (loss) per books . . . . . . . . . . . . . . . . . . • 4 Other increases . Itemize . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • • • 5 Total of line 1 through line 4 . . . . . . . . . . . . . . . . . . . . . 6 Distributions: a Cash . . . . . . . . . . . . . . . . . . . . . . b Property . . . . . . . . . . . . . . . . . . . 7 Other decreases . Itemize . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Total of line 6 and line 7 . . . . . . . . . . . . . . . . . . . . . . . . 9 Balance at end of year . Subtract line 8 from line 5 . . . • • • • 3665203 Form 565 2020 Side 5
Extracted from PDF file 2020-california-form-565.pdf, last modified December 2020

More about the California Form 565 Corporate Income Tax TY 2020

We last updated the Partnership Return of Income in March 2021, so this is the latest version of Form 565, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form 565 directly from TaxFormFinder. You can print other California tax forms here.


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Related California Corporate Income Tax Forms:

TaxFormFinder has an additional 174 California income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the California Form 565.

Form Code Form Name
Form 3538 (565) Payment for Automatic Extension for LPs, LLPs, and REMICs
Form 565 Schedule D Capital Gain or Loss
565 Schedule K-1 Partner's Share of Income, Deductions, Credits, etc. (Fill-in)
Form 565 Schedule EO Pass-Through Entity Ownership

Download all CA tax forms View all 175 California Income Tax Forms


Form Sources:

California usually releases forms for the current tax year between January and April. We last updated California Form 565 from the Franchise Tax Board in March 2021.

Show Sources >

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of California Form 565

We have a total of ten past-year versions of Form 565 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2020 Form 565

2020 California Form 565 Partnership Return of Income

2019 Form 565

2019 California Form 565 Partnership Return of Income

2018 Form 565

2018 Form 565 - Partnership Return of Income

2017 Form 565

2017 Form 565 - Partnership Return of Income

2016 Form 565

2016 Partnership Return of Income

Partnership Return of Income (Fill-in) 2015 Form 565

2015 Form 565 -- Partnership Return of Income

Partnership Return of Income 2014 Form 565

2014 Form 565 -- Partnership Return of Income

Partnership Return of Income 2013 Form 565

2013 Form 565 -- Partnership Return of Income

2012 Form 565

2012 Form 565 -- Partnership Return of Income

2011 California Form 565 2011 Form 565

2011 Form 565 -- Partnership Return of Income


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