Schedule K-1 (Form 65 Only): Owner’s Share of Income, Deductions, Credits, etc. (2025)
Alabama · Alabama DOR · Used for tax years 2025
Alabama Schedule K-1 (Form 65) reports a partner’s share of income, deductions, credits, and other items for 2025. It also includes information about the partnership, the partner’s ownership shares, liabilities, and capital account, with separate columns for amounts allocated and
What you'll need
Have the following information ready to complete the schedule:
- The partnership’s employer identification number, name, and address.
- The partner’s identifying number, name, address, entity type, and partner or LLC member status.
- The partner’s beginning and ending shares of profit, loss, and capital, plus year-end liabilities.
- Capital account amounts, including contributions, increases or decreases, withdrawals, and distributions.
- The partner’s share of income, deductions, credits, and other items listed in Part III.
- Alabama and everywhere sales amounts and the entity’s total apportionment percentage.
- Credit codes and maximum allowable amounts from Schedule PC, if applicable.
For a nonresident partner, the form also asks for the state of legal residence.
Common mistakes
- Do not use the tax identification number (TIN) of a disregarded entity in Part II, item C, for the partner’s identifying number. The form explicitly warns against this.
Questions people ask
What does Schedule K-1 (Form 65) report?
It reports an owner’s share of income, deductions, credits, and other items. It also includes information about the partnership and the partner.
Does the form distinguish Alabama income from amounts reported by Alabama residents?
Yes. Part III has separate columns for the distributive share allocated and apportioned to Alabama and the distributive share to be reported by Alabama residents.
What information is requested for a nonresident partner?
Part II, item E.6, asks you to check the nonresident box and provide the partner’s state of legal residence.
Can the schedule be marked as final or amended?
Yes. The form has separate boxes for “Final K-1” and “Amended K-1.”
Where are credits from Schedule PC listed?
Section G provides spaces for credit codes and maximum allowable amounts from Schedule PC.