Form 1065X – Fill Out and Use This PDF

The Form 1065-X serves as an Amended Return or Administrative Adjustment Request (AAR) for entities that initially filed Forms 1065, 1065-B, or 1066. This form, updated by the Department of the Treasury's Internal Revenue Service, facilitates the correction of previously filed returns or adjustments by partnerships, electing large partnerships (ELPs), or real estate mortgage investment conduits (REMICs). Complete details and instructions for Form 1065-X can be found on the IRS's official website, ensuring filers have accurate and up-to-date guidance. To start the process of amending or adjusting your entity's tax return, click the button below.

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Form 1065X PDF Details

The Form 1065-X serves as a critical tool for partnerships, including electing large partnerships (ELPs) and Real Estate Mortgage Investment Conduits (REMICs), seeking to amend a previously filed return or request an administrative adjustment. As defined by the Internal Revenue Service (IRS), it ensures compliance and correctness post-original submission for the tax year ending, with guidance available through the IRS's official website. Partnerships must navigate different sections based on the tax year in question and the specific audit regime applicable, whether it's for tax years beginning before or after January 1, 2018, with distinct processes for those electing into the Bipartisan Budget Act (BBA) provisions. The form encompasses adjustments to items such as ordinary business income, net rental real estate income, and deductions among others, implicating an accurate distribution of tax liabilities or refunds. Additionally, it requires the inclusion of amended Schedules K-1 or Schedules Q, facilitating precise reporting to partners or interest holders. The comprehensive design of Form 1065-X, catering to a range of adjustment needs, encapsulates the IRS's approach to maintaining tax accuracy and fairness in partnership reporting.

Question	Answer
Form Name	Form 1065X
Form Length	5 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	1 min 15 sec
Other names	10 1065 X Form - Free to Edit, Download & PrintCocoDoc

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Form 1065-X		Amended Return or Administrative		OMB No. 1545-0123

		Adjustment Request (AAR)		For tax year ending
		Adjustment Request (AAR)		▶
(Rev. December 2021)				▶
Department of the Treasury		(For use by filers of Forms 1065, 1065-B, and 1066)
Department of the Treasury				(Enter month and year.)
Internal Revenue Service		▶ Go to WWW.IRS.GOV/FORM1065-X for instructions and the latest information.		(Enter month and year.)
Internal Revenue Service
	Name		Employer identification number

Number, street, and room or suite no. (If a P.O. box, see instructions.)

	City or town, state, and ZIP code			Telephone number (optional)

Enter name and address used on original return (If same as above, write “Same.”)

Internal Revenue Service Center where original return		▲
was filed. If electronically filed, enter “e-filed.”		▲

Partnerships and electing large partnerships (ELPs), enter the number of Schedules K-1 being filed with this return					.
REMICs, enter the number of Schedules Q being filed with this return			.

Part I Check the appropriate box (Choose only 1. See instructions.)

For partnership tax years beginning before January 1, 2018 (unless electing into BBA)

TEFRA AAR—go to Section 1

NonTEFRA—go to Section 1

ELPs/REMICs—go to Section 1

For partnership tax years beginning after December 31, 2017 (or that elected into BBA for tax years beginning after November 2, 2015 and before January 1, 2018)

BBA AAR—go to Section 2

NonBBA (see instructions)—go to Part II

Partnership-Partner Amended Return Related to Modification of Another Partnership’s Imputed Underpayment Partnership-Partner Amended Return (filed as part of modification of the imputed

underpayment during a BBA audit)—go to Section 3

Section 1—TEFRA/NonTEFRA Determination (for partnership tax years beginning before January 1, 2018)

AHas the partnership made an election to be treated as an electing large partnership (ELP) under the provisions of section 775?

Yes No

If “Yes,” the partnership is not subject to TEFRA. Enter the date of the election ▶ items B through D. Complete items E through G and then go to Part III.

You must determine if the partnership is subject to the rules for consolidated audit proceedings (TEFRA proceedings) under sections 6221 through 6234 (as in effect for tax years beginning before January 1, 2018). See instructions for details.

BDid the partnership have 10 or fewer partners at all times during the tax year? (Note: A husband and wife are considered one

partner for TEFRA purposes.) Yes

CAt all times during the partnership’s tax year, were all partners U.S. citizens, resident aliens, C corporations, or estates of

deceased partners? Yes No

If the answers to questions B and C are “Yes,” the partnership is not subject to TEFRA proceedings. A partnership that is not subject to TEFRA cannot file an Administrative Adjustment Request. See instructions for details.

DIf the partnership is not otherwise subject to TEFRA, has the partnership filed Form 8893, Election of Partnership Level Tax

Treatment, or its equivalent, to make an election to be treated as a TEFRA partnership? Yes

If the answers to questions B and C are “Yes” and the answer to D is “No,” then the partnership is not subject to TEFRA proceedings. If the answer to question D is “Yes,” enter the tax year that the election to be treated as a TEFRA partnership was originally filed with

the partnership return	▶

E The partnership is		Subject to TEFRA	Not subject to TEFRA
F Check the applicable box (see instructions):			Amended Return	Administrative Adjustment Request (AAR)

GIf you are a Tax Matters Partner (TMP) or a Partner With Authority (PWA) filing an AAR on behalf of the pass-through entity, are you

requesting substituted return treatment? (See instructions.)	Yes	No
Go to Part II
For Paperwork Reduction Act Notice, see separate instructions.		Cat. No. 54882S	Form 1065-X (Rev. 12-2021)

Form 1065-X (Rev. 12-2021)

Page 2

Section 2—BBA AAR

AIs the partnership revoking the immediately preceding partnership representative (and/or designated individual, if applicable) and appointing a successor (including the designated individual, if applicable) at the same time that this AAR is being filed?

Yes (Attach Form 8979.)

BDo the adjustments on the AAR result in an imputed underpayment for the reviewed year?

Yes (If “Yes,” go to Question C.)

No (If “No,” go to Question D.)

CIs the partnership making an election under section 6227(b)(2) to have the adjustments taken into account by the reviewed year partners?

Yes (If “Yes,” go to Question D.)

No (If “No,” go to Question E.)

DThe partnership is required to provide statements to the reviewed year partners containing their share of the adjustments. By signing below, the partnership representative declares, under penalties of perjury, that all statements have been provided to the reviewed year partners as required by the instructions.

Partnership Representative (or Designated Individual, if applicable)

Date

EIs the partnership applying modifications to the imputed underpayment?

Yes (If “Yes,” attach Form 8980.)

Go to Part II

Section 3—Partnership-partner amended return filed as part of modification of the imputed underpayment during a BBA audit. See instructions.

Audited partnership name

EIN of audited partnership

Reviewed year of audited partnership

Audit control number

Go to Part II

Fill in applicable items and use Part V to explain any changes

Part II

		1
		2
		3
		4
	(Loss)	5
	(Loss)	6a
		6a
		b
	Income	c
	Income	7
		7
		8
		9a
		b
		c
		10
		11

Amended or Administrative Adjustment Request		(a) As originally	(b) Net change—
(AAR) Items for Partnerships Filing Form 1065 Only		(a) As originally	(b) Net change—
(AAR) Items for Partnerships Filing Form 1065 Only		reported on Schedule K	increase or (decrease)—	(c) Correct amount
(ELPs and REMICs, use Part III)		or as previously adjusted	explain in Part V
(ELPs and REMICs, use Part III)

Ordinary business income (loss)	1
Net rental real estate income (loss)	2
Other net rental income (loss) (see instructions) . . .	3
Guaranteed payments	4
Interest income	5
Ordinary dividends	6a
Qualified dividends	6b
Dividend equivalents	6c
Royalties	7
Net short-term capital gain (loss)	8
Net long-term capital gain (loss)	9a
Collectibles (28%) gain (loss)	9b
Unrecaptured section 1250 gain (see instructions) . .	9c
Net section 1231 gain (loss)	10
Other income (loss) (see instructions)	11

Form 1065-X (Rev. 12-2021)

Deductions	12	Section 179 deduction
	13a	Contributions
	b	Investment interest expense
	c	Section 59(e) expenditures
	d	Other deductions (see instructions)
	d	Other deductions (see instructions)
Employment	14a	Net earnings (loss) from self-employment
Employment	b	Gross farming or fishing income
Self-	c	Gross nonfarm income
	15a	Low-income housing credit (section 42(j)(5)) . . . .
Credits	b	Low-income housing credit (other)
	c	Qualified rehabilitation expenditures (rental real estate)
	d	Other rental real estate credits (see instructions) . . .
	e	Other rental credits (see instructions)
	e	Other rental credits (see instructions)
	f	Other credits (see instructions)
Foreign Transactions	16	Attach Schedule K-2 (Form 1065), Partners’ Distributive
		Share Items-International, and check this box to indicate
		that you are reporting items of international tax
		relevance

Items	17a	Post-1986 depreciation adjustment
Items
Tax (AMT)	b	Adjusted gain or loss
Tax (AMT)	c	Depletion (other than oil or gas)
Minimum	c	Depletion (other than oil or gas)
	d	Oil, gas, and geothermal properties—gross income . .

Alternative	e	Oil, gas, and geothermal properties—deductions . .
Alternative	f	Other AMT items (see instructions)
	f	Other AMT items (see instructions)
Information	18a	Tax-exempt interest income
	b	Other tax-exempt income
	c	Nondeductible expenses
	19a	Distributions of cash and marketable securities . . .
	b	Distributions of other property
	20a	Investment income
Other	20a	Investment income
	b	Investment expenses
	c	Other items and amounts (see instructions) . . . .

	21	Total foreign taxes paid or accrued

Note: Amended Schedules K-1: See instructions for when required.

Page 3

13a

13b

13c

13d

14a

14b

14c

15a

15b

15c

15d

15e

15f

17a

17b

17c

17d

17e

17f

18a

18b

18c

19a

19b

20a

20b

20c

Form 1065-X (Rev. 12-2021)

Form 1065-X (Rev. 12-2021)		Page 4

Part III Amended or Administrative Adjustment Request (AAR) Items for ELPs and REMICs Only

(a) Description of item being amended or	(b) As originally	(c) Net change—
	reported or as previously	increase or (decrease)—	(d) Correct amount
adjusted (see instructions)
	adjusted	explain in Part V

Tax and Payments (see instructions)

6 ELPs ONLY: Tax and other payments

7REMICs ONLY: Tax on net income from prohibited

transactions

8REMICs ONLY: Tax on net income from foreclosure

property

9REMICs ONLY: Tax on contributions after the startup

	day	9
10	Total tax	10
11	Tax paid with Form 7004	11
12	Tax paid with (or after) the filing of the original return .	. . . . . . . . . . . . . .	12
13	Add lines 11 and 12, column (d)	. . . . . . . . . . . . . .	13
14	Overpayment, if any, as shown on original return or as later adjusted		14
15	Subtract line 14 from line 13	. . . . . . . . . . . . . .	15
Tax Due or Overpayments (see instructions)

16	Tax due. Subtract line 15 from line 10, column (d). For details on how to pay, see instructions . .		16
17	Overpayment. Subtract line 10, column (d), from line 15	. . . . . . . . . . . . . .	17

Note: Amended Schedules K-1 or Schedules Q. File amended Schedules K-1 or Schedules Q with Form 1065-X. If the ELP or REMIC is filing Form 1065-X for an administrative adjustment request (AAR), do not furnish the amended Schedules K-1 or Schedules Q to the partners or residual interest holders. If the REMIC is not filing for an AAR and is not subject to the rules for consolidated audit proceedings under sections 6221 through 6231 (as in effect November 1, 2015), the REMIC must furnish the amended Schedules Q to its residual interest holders. See instructions for details.

Part IV Imputed Underpayment Under the Centralized Partnership Audit Regime (see instructions)

1	Imputed underpayment	1
2	Total amount due	2
3	Total payment	3
4	Balance due (subtract line 3 from line 2)	4

Under penalties of perjury, I declare that I have filed an original return and that I have examined this amended return, or AAR including accompanying schedules and statements, and to the best of my knowledge and belief, this amended return or AAR is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

Sign

▲

Signature of current Partnership Representative (or

Date

Title

Here

Designated Individual, if applicable), LLC member, or

Partner

Print/Type name of Partnership Representative

Paid

Print/Type preparer’s name

Preparer’s signature

Date

Check

PTIN

Preparer

self-employed

Firm’s name ▶

Firm’s EIN ▶

Use Only

Firm’s address ▶

Phone no.

Form 1065-X (Rev. 12-2021)

Form 1065-X (Rev. 12-2021)		Page 5

Part V	Explanations. Enter the Part II or Part III line number before each item you are changing, and give a reason
	for the change. For partnerships, show the box number and code used to report the item on Schedule K-1.
	Show any computation in detail. Also, show how the imputed underpayment was calculated and how
	modifications were applied. If more space is needed, continue your explanations on additional pages.

Form 1065-X (Rev. 12-2021)

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The best way to complete Form 1065X portion 1

2. After filling out this step, go on to the next step and enter the necessary details in these blank fields - For partnership tax years, BBA AARgo to Section, NonBBA see instructionsgo to Part, PartnershipPartner Amended Return, PartnershipPartner Amended Return, Section TEFRANonTEFRA, A Has the partnership made an, Yes, If Yes the partnership is not, Do not complete, You must determine if the, partner for TEFRA purposes, Yes, C At all times during the, and deceased partners.

C At all times during the, Yes, and Do not complete inside Form 1065X

3. This part is usually simple - fill in all the empty fields in Is the partnership revoking the, Yes Attach Form, B Do the adjustments on the AAR, Yes If Yes go to Question C, No If No go to Question D, C Is the partnership making an, Yes If Yes go to Question D, No If No go to Question E, D The partnership is required to, Partnership Representative or, Date, E Is the partnership applying, Yes If Yes attach Form, Go to Part II, and Section Partnershippartner amended to conclude the current step.

Partnership Representative or, D The partnership is required to, and B Do the adjustments on the AAR in Form 1065X

4. This next section requires some additional information. Ensure you complete all the necessary fields - AAR Items for Partnerships Filing, reported on Schedule K or as, explain in Part V, s s o L, e m o c n, Ordinary business income loss, b Collectibles gain, Net section gain loss Other, Interest income, Royalties Net shortterm, a b c a b c, and Form X Rev - to proceed further in your process!

Interest income, Ordinary business income loss, and AAR Items for Partnerships Filing of Form 1065X

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