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IRSPartnership & Fiduciary (1065/1041 Series)

Official form guide

Form 1065SB2: 1065 (Schedule B-2)

Schedule B-2 is part of IRS Form 1065, the U.S. Return of Partnership Income. It reports each partner’s beginning, ending, and changes in capital accounts for the tax year.

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Form Overview

IRS Form 1065SB2 - 1065 (Schedule B-2)

Schedule B-2 is part of IRS Form 1065, the U.S. Return of Partnership Income. It reports each partner’s beginning, ending, and changes in capital accounts for the tax year.

It captures each partner’s capital contributions, share of income/loss, withdrawals, and ending capital balance.

Risk Radar

Scan points
  • 1A single mis‑keyed capital amount can invalidate all partner K‑1s.
  • 2Mismatched beginning balances with prior year’s Schedule B‑2
  • 3Omitting a partner’s withdrawal or distribution
  • 4Using the wrong tax year for capital changes
  • 5Incorrectly allocating income/loss to partners

Plain English

Think of Schedule B‑2 as the partnership’s balance sheet for each partner. It shows how much each partner put in, earned, withdrew, or transferred during the year.

Submission Date

  • Filing date: 2018-12-26 22:00:13
  • Preparation window: collect IDs, supporting records, and signatures in advance.
  • Final review: verify names, dates, and required fields before submission.

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Glossary Terms

partnershipincome

Hover a term to preview the meaning.

What this form is for

  • Use when filing a partnership return that has multiple partners.
  • Do not use for single‑member LLCs taxed as disregarded entities.
  • Check Schedule K‑1 instructions if you only need partner‑level allocations.

Form selector

Use this form or another form?

Single‑member LLC taxed as partnership

No partner capital accounts needed

✓ Verify entity classification first

Form 1065 without Schedule B‑2

Partnership with no changes in capital accounts

Schedule B‑2 may be left blank but must be attached

✓ Confirm with IRS instructions

Form 1065 with a short statement

Deadline or filing window

Schedule B‑2 must be filed with Form 1065 by the partnership’s filing deadline, typically March 15 for calendar‑year partners. Extensions push the deadline to September 15, but the schedule still must accompany the extended return.

  • —Beginning balance + Contributions + Allocated income – Withdrawals – Allocated loss | = Ending balance | Verify against partnership balance
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Field map

Compact field-by-field guide

9 fields

Entity Info

2 items

Corporation Name and EIN

Full legal name of the corporation and its Employer Identification Number.

Requiredtext
Address and Date Incorporated

Current mailing address and date of incorporation.

Requiredtext

Income

3 items

Gross Receipts or Sales

Total revenue from business operations before deducting costs.

Requiredamount
Cost of Goods Sold

Direct costs attributable to producing goods sold by the corporation.

amount
Total Income

Gross receipts minus cost of goods sold and returns/allowances.

Requiredamount

Deductions

1 items

Total Deductions

Sum of all business expenses including compensation, rent, interest, taxes, and depreciation.

Requiredamount

Tax

2 items

Taxable Income

Total income minus total deductions.

Requiredamount
Total Tax

Tax calculated on taxable income using the applicable corporate tax rate, minus any credits.

Requiredamount

Signatures

1 items

Officer Signature

An authorized corporate officer must sign and date the return.

Requiredsignature
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Current form status
IRS

Form 1065 Schedule B‑2 is currently in the 2024 edition, reflecting the 2023 tax year filing requirements. No major revisions have been announced for the 2025 edition.

What changed or needs a fresh check

  • Edition date: 2024 (covers 2023 tax year)
  • Fee: No separate fee; included with Form 1065 filing
  • Mailing address: See Form 1065 instructions for the IRS processing center
  • Electronic filing: Use IRS Modernized e‑File (MeF) for faster acceptance
  • Signature requirement: Form 1065 must be signed; Schedule B‑2 itself has no signature line

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Quick Facts

All domestic partnerships that file Form 1065 must attach Schedule B‑2.
It captures each partner’s capital contributions, share of income/loss, withdrawals, and ending capital balance.
Attach Schedule B‑2 to the Form 1065 filing deadline, generally the 15th day of the third month after the partnership’s tax year ends (March 15 for calendar‑year partnerships).
Include Schedule B‑2 with the paper or electronic Form 1065 submitted to the IRS via the Modernized e‑File (MeF) system or mailed to the address listed in the Form 1065 instructions.
Errors can cause mismatched partner K‑1s, trigger IRS notices, and delay the partnership’s final tax liability calculation.
Gather each partner’s capital account statements for the year. Fill in beginning balances, add contributions and allocated income, subtract withdrawals and losses, then compute ending balances. Review totals against the partnership’s balance sheet, then attach the completed schedule to Form 1065 before filing.

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Copyright & Licensing - US Government Forms

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Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
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