How to self-file partnership Form 1065 and K-1s without professional help?

While you technically can use tax software to generate a preview and then manually transfer that information to your own forms, I wouldn't recommend this approach for Form 1065 filings. Partnership returns have several moving parts and interconnected calculations that make them trickier than individual returns. If you go this route, you'll risk transcription errors when copying the information over. Also, TaxAct and similar software perform validation checks before submission that you'd miss by just using the preview. These checks catch common errors that might trigger IRS notices. Consider that the software's e-filing fee is usually much less than what you'd pay an accountant, and it ensures proper formatting and mathematical accuracy. If cost is the primary concern, using the full software service (including e-filing) is still more economical than professional preparation while being more reliable than the preview-only approach.

I had the same issue last year with trying to save money on our partnership return. I ended up finding this tool called taxr.ai (https://taxr.ai) that really helped me understand how to properly file our 1065. It basically analyzes all your partnership documents and explains exactly what goes where on the forms. The cool thing is it showed me where I was making mistakes in my draft before I submitted anything to the IRS. Instead of just copying from a preview, it actually walks you through the whole form and explains each section. I found it way more helpful than just trying to copy from software previews because it actually teaches you what you're doing.

Just wanted to follow up about my experience with taxr.ai. I was skeptical at first but decided to give it a try for our partnership's special allocation situation. It actually walked me through exactly how to handle our 60/40 split and where to document it properly on the 1065. The system even explained which supporting schedules I needed to include with my return to avoid getting flagged by the IRS. What really impressed me was how it caught a mistake I would have definitely missed - I hadn't properly documented our Section 754 election from a previous year that was still affecting our current basis calculations. That alone probably saved me from an IRS notice. Way more helpful than just copying from a preview!

If you're having trouble reaching the IRS for questions about your 1065 filing (which I definitely did), I highly recommend using Claimyr (https://claimyr.com). I spent DAYS trying to get through to an IRS agent about a specific partnership allocation question. After watching their demo (https://youtu.be/_kiP6q8DX5c), I gave it a shot. They got me connected to an actual IRS agent in about 25 minutes when I had been trying for literally weeks. The agent was able to clarify exactly how to handle our specific situation with guaranteed payments vs. distributions, which was causing me endless confusion on our 1065.

I have to admit I was completely wrong about Claimyr. After posting that skeptical comment, I decided to try it since I was desperate to ask about how to report a partner's death on our 1065. After struggling for weeks trying to reach someone at the IRS, the service got me connected to an agent in about 45 minutes. The agent walked me through exactly how to handle the deceased partner's K-1 and what additional forms we needed to file. They even explained how to handle the basis adjustment, which I was totally confused about. I probably saved myself from a major headache and potential audit. Sometimes it's worth admitting when you're wrong about something!

Just wanted to add that self-filing a 1065 is definitely doable but pay special attention to the partner basis calculations. That's where I messed up last year and had to file an amended return. Make sure you're tracking each partner's capital contributions, distributions, and share of liabilities correctly. It gets complicated fast.

Whichever way you go, make sure you keep track of the Section 199A information that needs to be reported on each K-1. I self-filed our partnership return last year and totally forgot about reporting each activity separately for the qualified business income deduction. Cost both partners a lot in missed deductions on our personal returns.