Form Schedule M-1 Schedule M-1 Reconciliation of Income (Loss) per Books With Income (L

5
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Form 1065 (2008)

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Analysis of Net Income (Loss)
1
2

Net income (loss). Combine Schedule K, lines 1 through 11. From the result, subtract the sum of
Schedule K, lines 12 through 13d, and 16l

Analysis by
partner type:
a General partners
b Limited partners

Schedule L

(i) Corporate

(ii) Individual
(active)

Balance Sheets per Books
Assets

1
2a
b
3
4
5
6
7
8
9a
b
10a
b
11
12a
b
13
14
15
16
17
18
19
20
21
22

(iii) Individual
(passive)

(a)

(iv) Partnership

Beginning of tax year
(b)

1

(v) Exempt
organization

(vi) Nominee/Other

End of tax year
(c)

(d)

Cash
Trade notes and accounts receivable
Less allowance for bad debts
Inventories
U.S. government obligations
Tax-exempt securities
Other current assets (attach statement)
Mortgage and real estate loans
Other investments (attach statement)
Buildings and other depreciable assets
Less accumulated depreciation
Depletable assets
Less accumulated depletion
Land (net of any amortization)
Intangible assets (amortizable only)
Less accumulated amortization
Other assets (attach statement)
Total assets
Liabilities and Capital
Accounts payable
Mortgages, notes, bonds payable in less than 1 year
Other current liabilities (attach statement)
All nonrecourse loans
Mortgages, notes, bonds payable in 1 year or more
Other liabilities (attach statement)
Partners’ capital accounts
Total liabilities and capital

Schedule M-1

Reconciliation of Income (Loss) per Books With Income (Loss) per Return
Note. Schedule M-3 may be required instead of Schedule M-1 (see instructions).

1
2

Net income (loss) per books
Income included on Schedule K, lines 1, 2, 3c,
5, 6a, 7, 8, 9a, 10, and 11, not recorded on
books this year (itemize):
3 Guaranteed payments (other than health
insurance)
4 Expenses recorded on books this year not
included on Schedule K, lines 1 through
13d, and 16l (itemize):
a Depreciation $
b Travel and entertainment $
5

Income recorded on books this year not included
on Schedule K, lines 1 through 11 (itemize):
a Tax-exempt interest $

7

Deductions included on Schedule K, lines 1
through 13d, and 16l, not charged against
book income this year (itemize):
a Depreciation $

8
9

Add lines 6 and 7
Income (loss) (Analysis of Net Income (Loss),
line 1). Subtract line 8 from line 5

Add lines 1 through 4

Schedule M-2
1
2

6

Analysis of Partners’ Capital Accounts

3
4

Balance at beginning of year
Capital contributed: a Cash
b Property
Net income (loss) per books
Other increases (itemize):

5

Add lines 1 through 4

6
7

Distributions: a Cash
b Property
Other decreases (itemize):

8
9

Add lines 6 and 7
Balance at end of year. Subtract line 8 from line 5

Printed on recycled paper

Form

1065

(2008)