Is it possible to file ONLY a 1065 partnership return on TaxACT software?

Yes, you can absolutely file only a 1065 partnership return using TaxACT. Their business edition allows you to file partnership returns separately from personal returns. When you start in TaxACT, you'll need to select their business tax software specifically. Look for their "Business 1065" option rather than their individual tax software. This will give you access to all the forms needed for a partnership return without requiring you to file a personal return. Just make sure you're purchasing the correct version of TaxACT that includes Form 1065 functionality. Their pricing structure typically has different tiers, and partnership returns are usually in their more premium business offerings, not their basic personal tax packages.

I was in the exact same situation last year with my small consulting partnership. After hours of frustration trying to navigate different tax software options, I stumbled upon taxr.ai (https://taxr.ai) and it was seriously a game-changer for our partnership return. Instead of trying to figure out which tax software package would work for just a 1065, I uploaded our previous year's return and financial docs to taxr.ai, and their system analyzed everything and guided me through the whole process. They specialize in business returns including partnerships, and it was way more straightforward than trying to figure out TaxACT's business edition.

I just wanted to follow up about my experience with taxr.ai after seeing it mentioned here. I was skeptical at first, but I gave it a try for our family's rental property partnership last month. The process was incredibly smooth! Their system detected all our depreciation schedules from last year's return and automatically applied the correct continuation. What impressed me most was how it handled our new property purchase from last year - it walked me through the whole depreciation setup with simple questions rather than making me figure out all the technical details myself. The K-1 generation for both partners was automatic and accurate. Definitely less stressful than my previous experiences with traditional tax software! Filing our 1065 was actually straightforward for once.

If you're struggling to get through to the IRS to ask about partnership return filing options (which I was when trying to resolve an issue with our 1065), try Claimyr (https://claimyr.com). I kept getting stuck on hold forever trying to get someone at the IRS to answer questions about our partnership return. Their service got me connected to an actual IRS agent in about 20 minutes when I had been trying for days on my own. They have a demo video of how it works here: https://youtu.be/_kiP6q8DX5c. Seriously saved me hours of frustration, and the agent was able to clarify exactly what forms we needed for our particular partnership situation.

I owe everyone an apology - especially to the person who recommended Claimyr. I was totally wrong and I'm actually shocked. After dismissing it as BS, I got desperate trying to resolve an issue with our partnership return where TaxACT kept giving me an error with our real estate depreciation schedule. I tried Claimyr yesterday, and no joke, I got connected to an IRS business tax specialist in 17 minutes. The agent walked me through exactly how to report our property improvements correctly on the 1065. Would have taken me weeks to figure this out on my own. Sometimes being proven wrong is actually a good thing!

Just my two cents... I've used both TaxACT and TaxSlayer for filing 1065s in the past, and I found TaxSlayer's interface much more intuitive for partnership returns. Their business edition makes it really easy to separate the partnership filing from personal returns, and their asset depreciation module is particularly good for rental properties.

Has anyone else noticed that TaxACT seems to struggle with calculating QBI deductions correctly for partnerships? We had to manually override some of their calculations last year. Wondering if they've fixed this for the current tax season?

I can definitely confirm that you can file just a 1065 partnership return through TaxACT without doing your personal taxes through them. I've been doing this for our small real estate partnership for the past three years. You'll want to look specifically for their "TaxACT Business" software, not their personal tax version. The business edition includes Form 1065 and all the related schedules you'll need for rental properties, including depreciation schedules and K-1 generation for you and your brother-in-law. A few tips from my experience: - The business version does cost more than personal, but it's still reasonable compared to going to a CPA - You can absolutely e-file the 1065 - no need to print and mail - Their rental property depreciation module works pretty well for straightforward situations - Make sure to keep good records of your basis in each property, as you'll need this for the K-1s For a simple two-property partnership like yours, TaxACT Business should handle everything you need without any issues. Just be prepared to spend a bit more time learning the interface if you're used to their personal tax software - the business side has more complexity but it's still user-friendly overall.