Schedule K-1 (Form 1065) - Draft - Do Not File - Part III - Partner’s Share of Current-Year Income, Deductions, Credits, and Other Items

Sep 19, 2026

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Draft Schedule K-1 (Form 1065) provides Partner’s Share of Current-Year Income, Deductions, Credits, and Other Items for partnerships. It includes key categories such as ordinary business income (loss), rental income (loss), guaranteed payments, interest, dividends, royalties, and deductions, along with credits and other information. The form also captures partner identifiers and entity details, profit, loss, and capital allocation, and liability shares for the calendar or tax year ending 2026, with “Treasury/IRS and OMB use only” draft labeling and a notice not to file.

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Part III — Partner’s Share of Current-Year Income, Deductions, Credits, and Other Items

Ordinary business income (loss)

Net rental income (loss) and other income (loss)

Guaranteed payments and credits

Partner’s share allocations (profit, loss, capital, liabilities)

Distributions and other information

Note: The draft you are looking for begins on the next page. Caution: DRAFT—NOT FOR FILING This is an early release draft of an IRS tax form, instructions, or publication, which the IRS is providing for your information. Do not file draft forms. We incorporate all significant changes to forms posted with this coversheet. However, unexpected issues occasionally arise, or legislation is passed—in this case, we will post a new draft of the form to alert users that changes were made to the previously posted draft. Thus, there are never any changes to the last posted draft of a form and the final revision of the form. Forms and instructions are subject to OMB approval before they can be officially released, so we post drafts of them until they are approved. Drafts of instructions and pubs usually have some additional changes before their final release. Early release drafts are at [IRS.gov/DraftForms](IRS.gov/DraftForms and)[ and](IRS.gov/DraftForms and) remain there after the final release is posted at [IRS.gov/LatestForms](IRS.gov/LatestForms. Also see)[. Also see](IRS.gov/LatestForms. Also see) [IRS.gov/Forms](IRS.gov/Forms). Most forms and publications have a page on [IRS.gov:](IRS.gov:) [IRS.gov/Form1040](IRS.gov/Form1040 for)[ for](IRS.gov/Form1040 for)[ ](IRS.gov/Form1040 for)Form 1040; [IRS.gov/Pub501](IRS.gov/Pub501) for Pub. 501; [IRS.gov/W4](IRS.gov/W4 for Form W-4)[ for Form W-4](IRS.gov/W4 for Form W-4); and [IRS.gov/ScheduleA](IRS.gov/ScheduleA for Schedule A)[ for Schedule A](IRS.gov/ScheduleA for Schedule A) (Form 1040), for example, and similarly for other forms, pubs, and schedules for Form 1040. When typing in a link, type it into the address bar of your browser, not a Search box on [IRS.gov](IRS.gov). If you wish, you can submit comments to the IRS about draft or final forms, instructions, or pubs at [IRS.gov/FormsComments](IRS.gov/FormsComments. Include)[. Include](IRS.gov/FormsComments. Include) “NTF” followed by the form or pub number (for example, “NTF1040”,“NTFW4”, “NTF501”, etc. ) in the body of the message to route your message properly. We cannot respond to all comments due to the high volume we receive and may not be able to consider many suggestions until the subsequent revision of the product, but we will review each “NTF”message. If you have comments on reducing paperwork and respondent (filer) burden, with respect to draft or final forms, please respond to the relevant information collection through the Federal Register process; for more info, click here. TREASURY/IRS AND OMB USE ONLY DRAFT DRAFT — DO NOT FILE 651123 Final K-1 Amended K-1 OMB No. 1545-0123 | Schedule K-1 (Form 1065)
Department of the Treasury Internal Revenue Service | 2026
For calendar year 2026, or tax year |
Part III
Partner’s Share of Current-Year Income, Deductions, Credits, and Other Items | | | | | --- | --- | --- | --- | --- | --- | | | | 1 | Ordinary business income (loss) | 14 | Self-employment earnings (loss) | | beginning / 2026 ending
/
/ /
Partner’s Share of Income, Deductions,
Credits, etc. See separate instructions. | | | | | | | | | 2 | Net rental real estate income (loss) | | | | | | 3 | Other net rental income (loss) | 15 | Credits | | Part I Information About the Partnership | | 4a | Guaranteed payments for services | | | | A Partnership’s employer identification number | | | | | | | | | 4b | Guaranteed payments for capital | 16 | Schedule K-3 is attached if checked . . . . . | | B Partnership’s name, address, city, state, and ZIP code | | | | | | | | | 4c | Total guaranteed payments | 17 | Alternative minimum tax (AMT) items | | | | 5 | Interest income | | | | C IRS center where partnership filed return: | | | | | | | D Check if this is a publicly traded partnership (PTP) | | 6a | Ordinary dividends | | | | Part II Information About the Partner | | | | | | | E Partner’s SSN or TIN (Do not use TIN of a disregard

FAQs

What kinds of items are included in the partner’s share reporting?

The form includes categories such as ordinary business income, rental income, guaranteed payments, interest and dividends, royalties, deductions, credits, distributions, and other information.

Sep 19, 2026

Upload by Sarah