Client Checklists

2022 – Partnership and S-Corporation tax checklists (forms 1065 and 1120S)

Partnership Tax Checklist When filing taxes for a business registered as a partnership (or if you are a multi-member LLC filing as a partnership), you will need the following information and documents:

Partner Information:

  • Partners’ names (exactly as they appear on their Social Security cards)
  • Partners’ home addresses
  • Partners’ SSNs or Employer Identification Numbers (EINs)
  • Each partner’s ownership percentage (including profit and loss percentage, if different)
  • Capital contributions, distributions, and other financial transactions for each partner
  • Share of liabilities for each partner
  • Insurance for each partner
  • Liquidating payments for each partner
  • Information about any changes in ownership or addition or loss of partners

Documents:

  • A copy of your partnership agreement, including any amendments and bylaws (if you’re an LLC taxed as a partnership, you’ll need a copy of the LLC operating agreement and any articles of organization)
  • A list of federal and state EINs
  • Form 1065, including Schedules K-1
  • State or local returns from the previous year

S Corporation Tax Checklist When filing taxes for a business registered as an S Corporation, you will need the following information and documents:

Shareholder Information:

  • Shareholders’ names (exactly as they appear on their Social Security cards)
  • Shareholders’ home addresses
  • Shareholders’ SSNs or EINs
  • Number of shares that each shareholder owns
  • Capital contributions, distributions, or loans for each shareholder
  • Reasonable compensation paid to any shareholder
  • Insurance for each shareholder
  • Information about any changes in ownership throughout the year

Documents:

  • Acceptance letter from the IRS for S corporation status (or previously filed Form 2553 requesting this filing status)
  • Bylaws and articles of incorporation, or an LLC Operating Agreement and articles of organization (if an LLC electing to be taxed as an S Corp)
  • A list of federal and state EINs
  • Any information carried over if converted from C Corporation to S Corporation
  • Form 1120-S, including Schedules K-1
  • State or local returns from the previous year