This Schedule B-1 Form 1065 guide explains the IRS Information on Partners Owning 50% or More of the Partnership. Schedule B-1 for Form 1065 identifies specified owners under the partnership ownership reporting rules. Direct and indirect ownership questions should be answered from ownership records rather than estimated from cash distributions.
Reviewed October 31, 2026. This is an independent guide. The version and availability information below identifies the IRS documents used for this page.
What Schedule B-1 Form 1065 does and who prepares it
A partnership discloses the ownership information required by the schedule instructions.
For the connected reporting route, see Form 1065. Keep the role of that document separate from the task explained on this page.
| Official form | Form 1065 (Schedule B-1) |
|---|---|
| IRS title | Information on Partners Owning 50% or More of the Partnership |
| Guide period | the applicable reporting period |
| Target version | Aug 2019 |
| Availability | Current IRS catalog PDF |
| Last checked | October 31, 2026 |
Get the Schedule B-1 Form 1065 PDF and check its status
Use the IRS source to confirm the document before completing a real filing. The download link is a reference to the official file; it is not a statement that every copy inside the PDF may be printed and submitted. Follow any instructions about electronic filing, scannable copies, recipient copies or attachments.
Which version of Schedule B-1 Form 1065 should you use?
This form follows a revision or continuing-use format rather than a new title for every calendar year. Check the revision printed on the document and the period requested inside it. A revision date, transaction date and tax year are different pieces of information. The current document should be read with the instructions that apply to the actual transaction or return.
Records to gather for Schedule B-1 Form 1065
- Partner ownership records.
- Entity ownership charts.
- Direct and indirect interest information.
- Identifying numbers.
- Partnership return.
Keep a working reconciliation with these records. It should show the source of each reported item, any correction made before filing and the reason a different amount appears on a connected form. This is especially useful when a statement is corrected or a prior-year balance continues into the current calculation.
How to work through Schedule B-1 Form 1065
- Confirm applicability. Start with the purpose, filer category and version of the form. Complete any eligibility or applicability question before spending time on the numerical calculation.
- Prepare the source workpapers. Gather the records listed below and reconcile their totals. Keep prior-year balances, current-year transactions and estimated payments separate where they serve different purposes.
- Complete dependent calculations first. When a line refers to another form, schedule or worksheet, finish that supporting calculation first. Preserve any classification, limitation and carryforward information.
- Follow the line sequence. Use the actual line labels and arithmetic in the applicable form. A line number from an older version may refer to something different after a revision.
- Reconcile the filing package. Check names, identifying numbers, tax periods, totals and required attachments. Then use the filing method, signature process and deadline that apply to this filer and form.
Form-specific IRS instructions and reporting details
The following points retain the operative wording of the IRS documents linked above. Read each point with its stated conditions and the applicable form version. References to another form or section describe a connected requirement; they do not mean that every reader must file every referenced document.
Schedule B-1 (Form 1065) for guidance on providing the rest of the information required of entities answering “Yes” to this question. Example for question 2b. A owns, directly, 50% of the profit, loss, or capital of Partnership X. B, the daughter of A, doesn’t own, directly, any interest in Partnership X and doesn’t own, indirectly, any interest in Partnership X through any entity (corporation, partnership, trust, or estate).
Because family attribution rules apply only when an individual (in this example, B) owns a direct interest in the partnership or an indirect interest through another entity, A’s interest in Partnership X isn’t attributable to B. On Partnership X’s Form 1065, it must answer “Yes” to question 2b of Schedule B. See Example 2 in the providing the rest of the information required of entities answering “Yes” to this question.
Purpose of Form Use Schedule B-1 (Form 1065) to provide the information applicable to certain entities, individuals, and estates that own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital of the partnership.
Who Must File Schedule B-1 (Form 1065) must be filed by all partnerships that answer “Yes” to question 2a or question 2b (question 3a or question 3b for 2009 through 2017) on Form 1065, Schedule B. Attach Schedule B-1 to Form 1065.
Additional reporting conditions
Specific Instructions Part I Complete Part I if the partnership answered “Yes” to Form 1065, Schedule B, question 2a (question 3a for 2009 through 2017). List each corporation, partnership, trust, tax-exempt organization, or foreign government owning, directly or indirectly, an interest of 50% or more in the profit, loss, or capital of the partnership at the end of the tax year.
Enter the name, EIN, type of entity (corporation, partnership, trust, taxexempt organization, or foreign government), country of organization, and the maximum percentage interests owned, directly or indirectly, in the profit, loss, or capital of the partnership. For an affiliated group filing a consolidated tax return, list the parent corporation rather than the subsidiary members. List the entity owner of a disregarded entity rather than the disregarded entity. If the owner of a disregarded entity is an individual rather than an entity, list the individual in Part II.
In the case of a tax-exempt organization, enter “tax-exempt organization” in column (iii).
Calculations and supporting information
Example 1. Corporation A owns, directly, an interest of 50% in the profit, loss, or capital of Partnership B. Corporation A also owns, directly, an interest of 15% in the profit, loss, or capital of Partnership C. Partnership B owns, directly, an interest of 70% in the profit, loss, or capital of Partnership C. Therefore, Corporation A owns, directly or indirectly, an interest of 50% in the profit, loss, or capital of Partnership C (15% directly and 35% indirectly through Partnership B).
On Partnership C’s Form 1065, it must answer “Yes” to question 2a (question 3a for 2009 through 2017) of Schedule B. Partnership C must also complete Part I of Schedule B-1. In Part I, Partnership C must identify Corporation A, which includes entering “50%” in column (v) (its maximum percentage owned). It also must identify Partnership B, and enter “70%” in column (v).
A practical example
A partnership reviews a partner ownership structure before filing. The preparer traces the relevant interests and supplies the ownership disclosures required by the schedule.
This example illustrates the order of the review. It does not assume an unverified deduction, exemption, treaty rate or final tax amount. The applicable form instructions and the actual records determine the result.
Common mistakes to avoid with Schedule B-1 Form 1065
- Apply the ownership definition requested by the schedule.
- Do not use distribution percentages as an automatic substitute for ownership.
- Keep identifying information consistent with partner records.
Questions about Schedule B-1 Form 1065
Does receiving or downloading this form mean I must file it?
A partnership discloses the ownership information required by the schedule instructions. The form purpose and the applicable filing or furnishing conditions determine the action. Downloading a blank PDF does not itself create a filing obligation or establish eligibility for a tax benefit.
Is the revision date always the same as the tax year?
No. Some forms show a tax year, while continuing-use forms show a revision date and ask separately for the reporting period. Check the actual document and instructions. Do not relabel a payment or transaction solely because it was reported in a later calendar year.
What should I do if the underlying information is wrong?
Apply the ownership definition requested by the schedule. Keep the original record and the correction trail. The issuer correction process, an amended return and an updated certificate can be different procedures. Choose the process that matches the document and the actual error.
Which records should I keep with the completed form?
Retain the source documents, applicable worksheets, submitted version and filing or furnishing confirmations. For this form, the working file should include partner ownership records, entity ownership charts, direct and indirect interest information. Keep continuing balances and prior-year support for as long as they remain relevant under the applicable recordkeeping rules.
Related forms and next steps
Use these guides when the connected issue applies to your records. Each page has its own purpose, reporting year and availability status.