Partnership Income Tax (Form 1065) (Udemy.com)
Learn to enter tax data for a Partnership into tax Form 1065 from a CPA
Created by: Robert (Bob) Steele
Last updated December 2019
What you will learn
- How to enter tax data for an Partnership into Form 1065
- How to use tax software to input a Form 1065
- How to use an Excel worksheet to support tax data input for a Partnership tax return Form 1065
- How to enter and track Schedule K adjustments
- How to enter and track M-1 adjustments
- How to enter and review data for Form K-1
How it compares
Against the other 200 rated Udemy courses in Accounting on CourseDuck:
- Rating4.3 out of 5higher than 16% of them
- Reviews1,015#53 of 201 by number of reviews
- Length4.2 hoursshorter than 66% of them
- Last updatedDecember 2019earlier than 80% of them
Course Description
This course currently consists of a comprehensive problem showing the data input process of a Partnership into tax Form 1065.
This course will put together a systematic format of entering data into a Form 1065 that will minimize errors, isolate problems as they happen, and remove the possibility of having to start the process all over again.
We will enter each M-1 adjustment individually into both the tax return and an Excel worksheet so that we fully understand how they work.
We will start by reviewing the data for the comprehensive problem.
Then we will enter the data into an Excel worksheet that will be used to help us organize the information.
We will be using Lacerte Tax software to enter the tax data into Form 1065. However, we will also provide PDF files of the tax forms so learners can enter the data directly into the tax forms as we go. The tax forms can also be found on the IRS website.
The course will demonstrate how to enter the data into the tax forms in stages to reduce potential mistakes and to identify mistakes as they happen so they can be fixed as easily as possible.
We will start the data input with the balance sheet.
Then we will enter the income statement as it is formatted in the adjusted trial balance.
Next, we will systematically go through Schedule K and M-1 adjustments. We will isolate these adjustments, reviewing them on the tax forms, in the software, and using our Excel worksheet.
We will then review the tax forms.
Next, we will review the Form K-1s and basic calculations.
The course will demonstrate the exporting of the K-1 Form to the individual Form 1040 for an owner of the Partnership, showing the flow through process.
Instructor Details
- 4.3 Rating
1,015 Reviews
Robert (Bob) Steele
Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his.
Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA).
Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software.
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Reviews
By Sanket Sanjay Bajaj on 1/5/2026
Old data learning, latest tools, methods, skill, concepts, not there in course, delivery of course means tone explanation is very fast. it should be more simple, and slow and calm tone. it is very outdated course or information, not worth for the courses.
By Marie G on 10/6/2025
Very thorough walk through. Suited for learners who have experience in tax, be it through attaining prior advanced educational courses in tax and/or have prior work experience preparing taxes. This is best categorized as Advanced level.
By Tim Hickerson on 12/4/2024
This was a very comprehensive walk-through for preparing Form 1065. The use of the Excel spreadsheet to keep track of adjusting entries for book purposes and tax adjustments for tax purposes is something that I have not considered in the past but I can see the benefit of using it as it is useful in keeping track of all the adjustments.
By Jane Banting on 8/8/2023
Great lesson! I’ve learned so much from it. Thank you for sharing your knowledge with me. It was presented in a clear and concise manner, making it easy for me to understand and learn from. I appreciate your efforts in creating such an informative and engaging lesson. I am excited to apply what I’ve learned in practical situations and further develop my skills..
By James Jeffrey Davidson on 5/11/2023
I've only just started this course, and already there's things I'm learning that I didn't know before. I'm interested to see where this goes next! I appreciate the approach. I still have questions, but I hope they can be answered by the end.
By Anesia Smith on 3/24/2023
Such an amazing course. I love how detailed the course is even when things seem repetitive. The repetition helps to commit the lessons to memory! I've purchased and taken a number of courses by Mr. Steele and will continue to.
By Arvin Machado on 12/7/2022
The content was what I expected to understand Partnership Tax. The comprehensive problem covered all areas of the return to give beginners a taste of the topic. I only wished the instructor spent more time on the depreciation adjustments as that was the most complex.
By Kylie on 1/23/2022
I beleive this is going to come in handy this year I have a couple partnerships i have to do and I needed to see this I needed the tools to be able to isolate this task into a step by step basis thank you for doing these videos I am your number one fan at the moment lol
By Dominique on 12/31/2021
Awesome Course!! I just started using Lacerte so this is perfect for me however, it's applicable to users of any tax program as it teaches us to not necessarily rely on the programs (data entry style) and to really understand Partnership returns
By Michael Jessen on 1/8/2020
This class gave me the tools to start an entry-level job preparing a 1065 and take the next step after compiling financials in QuickBooks. I'm currently enrolled in a MST program and have wanted to see how to take client information (trial balance) and prepare a partnership tax return in a systematic way from scratch. This class also showed me how to prepare a professional supporting workpaper in Excel.
Quality Score
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Overall Score : 86 / 100












