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September 2005; PPC's 1065 Deskbook is the best guidance available for solving your difficult partnership tax return questions. This year's 1065 Deskbook has been thoroughly updated for the revised Schedule K-1, with an emphasis on identifying the correct line and code for reporting pass-through items to minimize problems with the IRS. It's also been updated for the American Jobs Creation Act of 2004, which revised several partnership-specific provisions, among many other changes. <br/><br/>In addition to the revised Schedule K-1, the 1065 Deskbook covers partnership formation and termination, basis and allocations, transfers and distributions, passive activities, and more! It details every facet of partnership tax reporting, with separate chapters for LLC and LLP reporting, and a state-by-state summary of partnership reporting requirements.<br/><br/>A separate Quick Reference Binder provides worksheets, checklists, election statements, and other practice aids to save time when preparing or reviewing partnership returns. The 1065 Deskbook also includes tax planning roadmaps that show how to use information from Schedules K and K-1 and Form 1065 to provide planning tips to your clients.