what is the difference between a k 1 and form 1065 
a k 1 document is prepared for each partner shareholder or beneficiary a partnership then files form 1065 the partnership tax return that contains the activity found on each partner s k 1 11the bottom lineform 1065 u s return of partnership income is a tax document issued by the irs used to declare the profits losses deductions and credits of a business partnership in addition to form 1065 partnerships must also submit a schedule k 1 prepared for each partner form 1065 is due to the irs by the 15th day of the third month following the date the tax year ended for the business if your business follows a calendar year the due date is march 15 