Teders - partnership checklist

Partnership Return Checklist

Last year’s Partnership tax return
Employers Identification Number (EIN)
Phone number to contact someone at
When began business as a partnership
Accounting method: cash or accrual
Statement of Profit or Loss (Income Statement)
Balance Sheet
Detail listing of assets owned by the partnership, when purchased, and any depreciation taken on prior returns
General Ledger for entire year (or a backup diskette from software)
Partners Info: name, address, social security number, percent ownership, percent of share of profit and loss, and whether they are a general or limited partner
Which partner is to be considered the Tax Matters Partner (who signs the partnership return?)
Are all partners residents of US?
Capital draws taken by which partners; capital invested by which partners
Are any partners receiving guaranteed payments?