8865

Partner's Share of Income, Deductions, Credits, etc.

Agency
IRS
Revision
2025
Fillable fields
108
Pages
1
Official source
IRS form page
Checked
October 21, 2026
Fill 8865 online
Page 1 of form 8865

Schedule K-1 (Form 8865): Partner's Share of Income, Deductions, Credits, etc.

Schedule K-1 (Form 8865), Partner's Share of Income, Deductions, Credits, etc., is used to report a specific partner's share of a foreign partnership's income, deductions, credits and other items. It is part of Form 8865, Return of U.S. Persons With Respect to Certain Foreign Partnerships, and is completed by the U.S. person filing that return.

The Instructions for Form 8865 say all Category 1 and 2 filers complete Schedule K-1 (Form 8865) for any direct interest they hold in the partnership, and Category 1 filers also complete one for each U.S. person that owns a 10% or greater direct interest. The 2025 schedule has Part I about the partnership, Part II about the partner, and Part III with boxes 1 through 21.

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What's on Schedule K-1 (Form 8865)

Part I: the partnership

A1 the partnership's EIN, A2 the reference ID number used on Form 8865, item G2(b), and B the partnership's name and address.

Part II: the partner

C the partner's SSN or TIN (not the TIN of a disregarded entity), D1 the partner's name and address, and D2 the disregarded entity's TIN and name if the interest is owned through one.

Items E, F and G

Beginning and ending shares of profit, loss, capital and deductions; the partner's capital account analysis; and the share of net unrecognized section 704(c) gain or loss.

Part III, boxes 1 to 11

Ordinary business income, rental income, guaranteed payments, interest, dividends, royalties, capital gains, net section 1231 gain and other income.

Part III, boxes 12 to 21

Section 179 deduction, other deductions, self-employment earnings, credits, the Schedule K-3 checkbox in box 16, AMT items, tax-exempt income, distributions, other information and foreign taxes paid or accrued.

Final and amended boxes

Checkboxes at the top of the schedule mark a final K-1 or an amended K-1.

How to fill out Schedule K-1 (Form 8865)

  1. 1

    Tax year

    Enter calendar year 2025, or the beginning and ending dates of the partnership's tax year.

  2. 2

    Parts I and II

    Enter the partnership and partner information in items A through F. For items E and F, the instructions point to the instructions for Schedule K-1 (Form 1065), items J and L.

  3. 3

    Item E percentages

    Give the partner's beginning and year-end percentage interests in profits, losses, capital or deductions. The instructions say these include any interest constructively owned by the filer.

  4. 4

    Boxes 1 to 21

    Complete boxes 1 through 21 for the direct interest the partner owns. For the specific box rules, the Form 8865 instructions refer to the Instructions for Form 1065.

  5. 5

    Codes and statements

    In box 11 and boxes 13 through 21, enter a code to the left of each amount. For an item that needs more detail, enter an asterisk after the code and STMT in the entry space, and attach a statement.

  6. 6

    Box 16

    If the partnership had items of international tax relevance, see the Instructions for Schedules K-2 and K-3 (Form 8865) to decide whether to check the box and attach Schedules K-2 and K-3.

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Where it goes and special cases

Part of Form 8865

The schedule goes with Form 8865, which is attached to the filer's income tax return and filed by that return's due date, including extensions.

Related foreign partners

Under the gain deferral method, a Schedule K-1 (Form 8865) for each related foreign partner is filed and attached to Form 8865 as part of the annual reporting.

When the partnership files Form 1065

The instructions say a Category 2 filer may file the Schedules K-1 and K-3 (Form 1065) it receives from the partnership instead of Schedules K-1 and K-3 (Form 8865).

Section 721(c) partnerships

Box 20, code AL, includes the amounts for remedial items under the remedial allocation method for section 721(c) property.

Related forms

Who fills out Schedule K-1 (Form 8865)?

  • Category 1 and 2 filers with a direct interest

    They complete Schedule K-1 (Form 8865) for any direct interest they hold. A Category 1 or 2 filer that does not own a direct interest is not required to complete one.

  • Category 1 filers, for other U.S. partners

    Category 1 filers also complete a Schedule K-1 (Form 8865) for each U.S. person that owns a 10% or greater direct interest in the partnership.

  • U.S. transferors under the gain deferral method

    When a section 721(c) partnership has no filing obligation under section 6031, the U.S. transferor obtains a Schedule K-1 (Form 8865) for each related foreign partner and attaches it to Form 8865.

  • The partner on the schedule

    Part II identifies the partner by SSN or TIN, name and address. Part III shows that partner's distributive share and other information the partner needs to prepare their tax return.

The schedule is completed by the U.S. person filing Form 8865 and attached to that return. It is covered in the Instructions for Form 8865.

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Questions about Form 8865

Who completes Schedule K-1 (Form 8865)?

The U.S. person filing Form 8865. Category 1 and 2 filers complete it for their own direct interest, and Category 1 filers also for each U.S. person with a 10% or greater direct interest.

Does this K-1 have its own instructions?

It is covered in the Instructions for Form 8865, which refer to the Instructions for Form 1065 and the Partner's Instructions for Schedule K-1 (Form 1065) for box details.

What goes in item A2?

The reference ID number used on Form 8865, item G2(b).

Does a filer without a direct interest complete one?

The instructions say a Category 1 or 2 filer that does not own a direct interest is not required to complete Schedule K-1 (Form 8865).

What does STMT mean on the schedule?

It shows that the details for a coded item are on an attached statement. An asterisk is entered after the code in the left column.

Are partners taxed on undistributed income?

The instructions say that although the partnership isn't subject to income tax, the partners are liable for tax on their shares of the partnership income, whether or not distributed.