Schedule B-1 (Form 1065) – Partners Owning 50% or More
Last reviewed: 2025-10-25
Use the Form 1065sb: Schedule B-1 (Form 1065) – Partners Owning 50% or More Tax Form Calculator Form 1065sb: Schedule B-1 (Form 1065) – Partners Owning 50% or More as a stand alone tax form calculator to quickly calculate specific amounts for your 2026 1065sb state tax return. Alternatively, you can use one of our Combined Federal and State Tax Estimators to quickly calculate your salary, tax, and take-home pay.
Use this online version of Schedule B-1 (Form 1065sb) to disclose any partner—direct or indirect—who owned 50% or more of the partnership's capital, profits, loss, or deductions during the tax year. Accurate reporting on B-1 helps the IRS evaluate control, related-party transactions, and other compliance issues.
How to complete Schedule B-1: Enter each qualifying partner’s name, identifying number (TIN), entity type, and the highest percentage owned in capital, profits, or loss at any time during the year. If ownership is indirect, keep a record of the constructive ownership chain (look-through entities) and be prepared to furnish it on request. If more than three partners qualify, attach additional statements with the same line references.
| Report each direct or indirect partner that owned, at any time during the tax year, 50% or more of the partnership's capital, profits, loss, or deductions. | ||||||
| Partner 1 | ||||||
| 1a | 1a | |||||
| 1b | 1b | |||||
| 1c | 1c | |||||
| 1d | 1d | |||||
| Partner 2 | ||||||
| 2a | 2a | |||||
| 2b | 2b | |||||
| 2c | 2c | |||||
| 2d | 2d | |||||
| Partner 3 | ||||||
| 3a | 3a | |||||
| 3b | 3b | |||||
| 3c | 3c | |||||
| 3d | 3d | |||||
| Total ownership percentages entered (for review) | ||||||
Filing notes for 2026: Schedule B-1 is required when ownership thresholds are met—even if there were midyear changes or temporary control. Ensure entries here are consistent with Schedule K-1 allocations and with any disclosures on Schedule B, questions about foreign owners, tax-exempt owners, or section 754 elections. For tiered partnerships, confirm attribution rules under sections 267, 318, and 707 where applicable.
Last reviewed: 2025-10-25: If you believe this form requires an update, please contact us.
Purpose of Schedule B-1
Schedule B-1 provides a snapshot of controlling ownership for Form 1065sb filers. The information supports audit selection and cross-matching with other IRS information returns (e.g., Forms 5471, 8865, 8938) that may be required when foreign or related owners are present. Maintain documentation supporting the highest ownership percentages and the time periods during which thresholds were met.
Consult the latest IRS Form 1065 Instructions for current Schedule B-1 requirements and examples.
Frequently Asked Questions
Why does my EITC decrease as income rises?
EITC increases up to a point, then phases out as income exceeds IRS thresholds.
Why might refund and paycheck calculators differ?
Refund tools account for total year activity; paycheck tools simulate one period’s withholding.
How do rental or K-1 passthrough items flow?
Use Schedule E for rentals/partnerships/S corps and import outcomes here.
Any tool to sanity-check bond vs T-bill yield after tax?
Compare with Bond Yield and T-Bill.
Why did my Social Security withholding stop mid-year?
Once your earnings exceed the Social Security wage base, no further Social Security tax is withheld for that year.
Important Notes
All calculations are estimates for guidance only. Always review your return and consider professional advice when submitting official filings.