IT-565: Partnership Return of Income (2024)
Louisiana · Louisiana LDR · Used for tax years 2024
Louisiana Form IT-565 is the 2024 Partnership Return of Income. It reports the partnership’s federal income, gross revenues, total assets, and partners’ shares of income and tax, with separate schedules for partners included and not included in the Louisiana Composite Partnership
What you'll need
Have the following information ready to complete the return:
- Your Louisiana Department of Revenue (LDR) account number and federal employer identification number (FEIN). The form asks for them separately.
- The partnership’s name, address, NAICS code, and principal place of business state.
- Federal ordinary business income, federal net income, gross revenues, and total assets.
- Information about partners, disregarded entities, and whether the partnership made the Pass-Through Entity Tax Election.
- Income, deduction, property, and Louisiana activity information needed for the schedules you complete.
Include completed schedules and any additional schedules requested by the applicable lines, such as details of other additions, subtractions, or certain assets. If completing the return online produces a barcode page, include that page with the mailed return.
How to file
Mail the return to:
Louisiana Department of Revenue
PO Box 3440
Baton Rouge, Louisiana 70821-3440
Page one must be mailed with the completed schedules and any barcode page that prints when the return is completed online.
The return has a signature line for a general partner or limited liability company member manager. Complete the signature and date fields. A separate section is provided for a paid preparer.
Do not send cash.
Common mistakes
- Using the FEIN in the LDR account number field. The form specifically says to enter the LDR account number there, not the FEIN.
- Leaving cents in dollar amounts. Round all dollar amounts to the nearest dollar.
- Leaving out required pages. Mail page one, completed schedules, and any barcode page printed with a return completed online.
- Skipping partner schedules. Complete Schedule A for all partners not included on Schedule 6922, Louisiana Composite Partnership Return. Complete Schedule B for all partners included on Schedule 6922.
- Deducting oil and gas depletion on Schedule G or J. Both schedules say not to deduct it on the depletion line.
- Sending cash. The form says not to send cash.
Questions people ask
Can I report a fiscal year or a short tax period?
Yes. The form has boxes for calendar-year, fiscal-year, and short-period returns. Fiscal-year and short-period filers must enter beginning and ending dates.
Which partner schedule should I complete?
Complete Schedule A for partners not included on Schedule 6922, Louisiana Composite Partnership Return. Complete Schedule B for partners included on Schedule 6922.
Are there separate schedules for corporate and non-corporate partners?
Yes. Schedules D, E, and G cover reconciliation, apportionment, and Louisiana net income for partnerships with non-corporate partners. Schedules H, I, and J cover those subjects for partnerships with corporate partners.
How do I identify an amended or final return?
The form has boxes for “Amended Return,” “Amended Due to IRS Audit,” and “Final Return.” Mark the applicable box.