Partnership Tax Return Preparation (1065) in Manassas, VA
Partnership returns require coordination that goes beyond a typical business filing. Every partner depends on their K-1 to file their personal return—which means timing matters, accuracy matters, and communication matters.
We prepare Form 1065 returns for partnerships and multi-member LLCs across Manassas, Gainesville, Haymarket, and the greater Northern Virginia and DC area. From capital account tracking to K-1 generation, we handle the full scope of partnership tax compliance.
Book a Tax Fit CallWhat's Included in Our Partnership Filing Service
Partnership preparation isn't just about Form 1065—it's about getting K-1s right and delivering them on time so partners can file their own returns.
Why Partnership Returns Require Extra Coordination
Partnerships have more moving parts than single-owner businesses. Here's why process matters:
What We Need From You (So Prep Doesn't Drag Out)
The faster we get complete documents, the faster K-1s can go out to partners. Here's what we typically need:
Don't worry if you're not sure about some of these—we send a tailored checklist after your Tax Fit Call and help you gather what's needed.
Our 4-Step Partnership Tax Filing Process
Tax Fit Call
We review your partnership structure, number of partners, and any ownership changes. If books need cleanup, we identify that here.
Document Collection
Upload financials, partnership agreement, and prior returns to our secure portal. We send a tailored checklist.
Preparation & Review
We prepare Form 1065, reconcile capital accounts, generate K-1s, and schedule a walkthrough to review.
E-File & Distribute K-1s
Once approved, we e-file federal and state returns and deliver K-1s to all partners.
If Your Books Aren't Tax-Ready, We Handle That First
Partnership returns depend on accurate financials. If your books aren't reconciled, partner capital accounts don't balance, or there are unrecorded transactions, we can't prepare an accurate return—and neither can anyone else.
Here's how we handle it: We get your books tax-ready first. Only then does the return preparation timeline start. This ensures your Form 1065 is accurate, your K-1s tie to reality, and partner capital accounts are properly reconciled.
If you need ongoing bookkeeping support to avoid this crunch next year, we offer that too.
Need to File Your Partnership Return?
A 15-minute Tax Fit Call is all it takes to review your partnership's situation and set a clear timeline for K-1 delivery.
Book a Tax Fit CallOwnership Changes and K-1 Timing (Plan Early)
If your partnership had ownership changes during the year—a partner exit, a new partner admission, or a buyout—the return becomes more complex. Income must be allocated properly before and after the change, and departing partners still need K-1s for their portion of the year.
Why early notice matters: The more lead time we have on ownership changes, the smoother the process. If you're planning a change in the coming year, let us know early so we can advise on tax implications and documentation requirements.
Even if the change already happened, we can handle it—just provide documentation of the transaction so we can allocate income correctly.
Multi-State Partnerships
If your partnership operates in multiple states—or if partners reside in different states—you may have additional filing requirements. Each state has its own rules for partnership returns, composite filings, and nonresident withholding.
We handle Virginia, DC, Maryland, and other state partnership filings regularly. Proper income apportionment and compliance in each jurisdiction is part of what we do.
Coordinating Partnership K-1s With Partner Personal Returns
Each partner's K-1 flows directly into their personal tax return. If partners are married and filing jointly, the K-1 income appears on their joint return. Proper coordination ensures the numbers match and no income is missed or double-counted.
We can prepare both the partnership return and partner personal returns to ensure seamless coordination. If partners have their own accountants, we provide K-1s with clear documentation to make their job easier.
Why Clients Choose Hollins & Hur for Partnership Filing
K-1 Accuracy and Timing
We prioritize getting K-1s right and delivering them on time so partners aren't left waiting.
Capital Account Reconciliation
We track and reconcile partner capital accounts properly—no surprises on distributions.
Special Allocation Expertise
Complex partnership agreements with preferential returns or waterfalls? We handle it.
Entity + Personal Coordination
We can prepare partnership and partner personal returns together for seamless coordination.
Remote-Friendly
Everything is handled online—no office visit required. We work with clients across Northern VA and beyond.
Licensed Professionals
CPAs and Enrolled Agents prepare your return—not seasonal staff.
FAQs About Partnership Returns (1065)
What is Form 1065?
Form 1065 is the annual tax return for partnerships and multi-member LLCs. It reports the partnership's income, deductions, and credits, and generates K-1s for each partner showing their allocable share. The partnership itself doesn't pay income tax—it passes through to partners.
When is Form 1065 due?
For calendar-year partnerships, Form 1065 is due March 15. If you need more time, we can file an extension (Form 7004) to move the deadline to September 15. K-1s should be issued to partners by the same deadline so they can file their personal returns.
What if partners have different ownership percentages?
We ensure proper allocation of income, deductions, and credits based on each partner's ownership percentage. If your partnership agreement includes special allocations (like preferential returns or waterfall provisions), we handle those too.
Do all multi-member LLCs file Form 1065?
By default, yes. Multi-member LLCs are taxed as partnerships unless they've elected S-Corp or C-Corp status. We confirm your LLC's tax classification before filing to ensure you're on the right form.
What happens if K-1s are late?
Late K-1s can delay partners' personal returns. If partners don't receive their K-1s by the filing deadline, they may need to file personal extensions or estimate their partnership income. We prioritize timely K-1 delivery to prevent this.
Can you help if we had ownership changes during the year?
Yes. Ownership changes require careful allocation of income before and after the change. We handle partner buyouts, new partner admissions, and mid-year exits with proper documentation and K-1 allocations.
What if one partner lives in a different state?
Partners may owe state tax in both the partnership's state and their resident state. We prepare composite returns or nonresident withholding as required and help partners understand their multi-state obligations.
Ready to File Your Partnership Return?
Book a free 15-minute Tax Fit Call. We'll review your partnership's structure, confirm what's needed, and set a clear timeline for your Form 1065 and K-1s.
Book a Tax Fit Call