California Partnership Return of Income

Partnership Return of Income
2023 California Form 565 Partnership Return of Income
TAXABLE  YEAR

2023

CALIFORNIA  FORM

Partnership Return of Income

565

For calendar year 2023 or fiscal year beginning	
and ending	
	
(m m / d  d / y  y  y  y)	
Partnership name (type or print)  Check box if name changed 

•	

.

RP

(m m / d  d / y  y  y  y)
A  FEIN

	

•

Additional information 	

B  California Secretary of State (SOS) file number

	

•

Street address (suite, room, PO box)		

City (If the partnership has a foreign address, see instructions.)	

State	

Foreign country name	

• 

(1) 

• Cash  (2)  • Accrual  (3)  •  Other (attach explanation)	 •	

H  Check the applicable box	

• 
I	

(1) 

(2) 

•  FINAL RETURN 

(3) 

•  Amended return 

Foreign postal code

G	
	

Enter total assets at end of
year. See instructions.

•	 $
(4) 

•  Protective claim	

(1)	 During this taxable year, did this partnership acquire control or majority ownership (more than a 50% interest) in another
legal entity?

			

	

•  Initial return 

ZIP code	

Foreign province/state/county	

E  Check accounting method	
F	 Date business started in CA	
			 (m m / d  d / y  y  y  y)	

PMB no.	

If yes, did the acquired entity(ies) own California real property (i.e., land, buildings), lease such property for
a term of 35 years or more, or lease such property from a government agency for any term?
If yes to both questions, answer yes.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

• 

• Yes  • No

• 

• Yes  • No

• 

• Yes  • No 

(2)	 During this taxable year, did another person or legal entity acquire control or majority ownership (more than a 50% interest)
of this partnership or any legal entity in which the partnership holds a controlling or majority interest?

			

If yes, did the acquired entity(-ies) own California real property (i.e., land, buildings), lease such property for a term
of 35 years or more, or lease such property from a government agency for any term? If yes to both questions, answer yes.  .

	(3)	
Has California real property (i.e., land, buildings) transferred to the partnership that was excluded from property tax
reassessment under Revenue and Taxation Code Section 62(a)(2)?
			
	

If yes, during this taxable year, has more than 50% of the partnership’s ownership interests cumulatively transferred in
one or more transactions and it was not reported on a previous year’s tax return? If yes to both questions, answer yes. .  .

(Yes requires filing of BOE-100-B statement, penalties may apply – see instructions.)

Caution: Include only trade or business income and expenses on line 1a through line 22. See the instructions for more information.

Income

•

 1	 a Gross receipts or sales $ ____________ b Less returns and allowances $ _____________ .  .  .  . c Balance  	  1c	
 2	 Cost of goods sold (Schedule A, line 8)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 2	
 3	 GROSS PROFIT. Subtract line 2 from line 1c  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 3	
 4	 Total ordinary income from other partnerships and fiduciaries. Attach schedule  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . , 	 4	
 5	 Total ordinary loss from other partnerships and fiduciaries. Attach schedule .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 5	
 6	 Total farm profit. Attach federal Schedule F (Form 1040)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 6	
 7	 Total farm loss. Attach federal Schedule F (Form 1040)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . , 	 7	
 8	 Total gains included on Schedule D-1, Part II, line 17 (gain only)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 8	
 9	 Total losses included on Schedule D-1, Part II, line 17 (loss only)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 9	
10	 Other income. Attach schedule  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	10	
11	 Other loss. Attach schedule  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	11	
12	 Total income (loss). Combine line 3 through line 11  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	12	

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3661233

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Form 565  2023  Side 1

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Deductions

Enclose, but do not staple,
any payment

13	
14	
15	
16	
17	

Salaries and wages (other than to partners)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	13	
Guaranteed payments to partners .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	14	
Bad debts  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	15	
Deductible interest expense not claimed elsewhere on return  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	16	
a  Depreciation and amortization. Attach form FTB 3885P $ ______________

00
00
00
00

	

b  Less depreciation reported on Schedule A and elsewhere on return $ ________________ .  .  .  .  .  . c Balance

00

•

•	

17c	

00
00
00
00
00
00

18	 Depletion. Do not deduct oil and gas depletion .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	18	
19	 Retirement plans, etc. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	19	
20	 Employee benefit programs  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	20	

•	21	
22	 Total deductions. Add line 13 through line 21  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •	22	
23	 Ordinary income (loss) from trade or business activities. Subtract line 22 from line 12 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •	23	
24	 Tax — $800.00 (LPs, LLPs, and REMICs only). See instructions.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •	24	
00
25	 Pass-through entity elective tax. See instructions. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •	25	00
26	 Partnership level tax. If IRS concluded a centralized audit for this year, see instructions. If not, leave blank. .  .  . •	26	00
27	 Total tax. Add line 24, line 25 and line 26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •	27	
00
28	 Withholding (Form 592-B and/or 593)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •	28	
00
29	 Amount paid with extension of time to file return (form FTB 3538)  .  .  .  .  .  .  .  . •	29
00
30	 Amounts paid for pass-through entity elective tax  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •	30
00
31	 Total payments. Add line 28, line 29, and line 30  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •	31	
00
32	 Use tax. This is not a total line. See instructions. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •	32	
00
33	 Payments balance. If line 31 is more than line 32, subtract line 32 from line 31  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •	33	
00
34	 Use tax balance. If line 32 is more than line 31, subtract line 31 from line 32  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •	34	
00
35	 Tax due. If line 27 is more than line 33, subtract line 33 from line 27  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •	35	
00
. 00
36	 Refund. If line 33 is more than line 27, subtract line 27 from line 33  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •  36
37	 Penalties and interest. See instructions  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •	37	
00

Amount Due
or Refund

Payments

21	 Other deductions. Attach schedule  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

38	 Total amount due. Add line 34, line 35, and line 37.
	 Make the check or money order payable to the Franchise Tax Board  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

•  38

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00

 J	 What type of entity is filing this return? Check one only:

• 1  •  General partnership  • 2  •   LP required to pay annual tax (is doing business in CA, is registered with SOS, or is organized in CA)
	• 3  •   LP, LLC, or other entity NOT required to pay annual tax (is not doing business in CA, is not registered with SOS, and is not organized in CA)
	• 4  •  REMIC  • 5  •  LLP  • 6  • Other (See instructions)
 K	 Principal business activity code (Do not leave blank)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •
	

	

Business activity ________________________ Product or service _____________________________

 L	 Enter the maximum number of partners in this partnership at any time during the year. Attach a CA Sch. K-1 (565)
for each partner  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
 M	 Is any partner of the partnership related (as defined in IRC Section 267(c)(4)) to any other partner? .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
 N	 Is any partner of the partnership a trust for the benefit of any person related (as defined in IRC Section 267(c)(4))
to any other partner?  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
 O	 Are any partners in this partnership also partnerships or LLCs? If “Yes,” complete Schedule K-1, Table 3 for each.  .  .  .  .  .  .  .  .  .  .  .

•
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 P	 Does the partnership meet all the requirements shown in the instructions for Question P?  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	

•	
 R	 Was there a distribution of property or transfer (for example by sale or death) of a partnership interest during the taxable year? .  •	
 Q	 Is this partnership a partner in another partnership or multiple member LLC? If “Yes,” complete Schedule EO, Part I.  .  .  .  .  .  .  .  .  .
	

If “Yes,” see the federal instructions concerning an election to adjust the basis of the partnership’s assets under IRC Section 754

 S	 Is this partnership a publicly traded partnership as defined in IRC Section 469(k)(2)?  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

	

 T	 Is this partnership under audit by the IRS or has it been audited in a prior year?  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

•	

Side 2  Form 565  2023

3662233

• Yes  • No
• Yes  • No
• Yes  • No
• Yes  • No
• Yes  • No
• Yes  • No
• Yes  • No
• Yes  • No

•	
•	
•	
•	
•	
•	

• Yes  • No
• Yes  • No
• Yes  • No
• Yes  • No
• Yes  • No
• Yes  • No

•	
 Z	 Is this partnership a direct owner of an entity that filed a federal Schedule M-3?  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •	
AA	 Does this partnership have a beneficial interest in a trust or is it a grantor of a trust? Attach name, address, and FEIN.  .  .  .  .  .  .  .  . •	
BB	 Does this partnership own an interest in a business entity disregarded for tax purposes? If “Yes,” complete Schedule EO, Part II. •	
CC	 (1)	 Is the partnership deferring any income from the disposition of assets? (see instructions)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •	

• Yes  • No
• Yes  • No
• Yes  • No
• Yes  • No
• Yes  • No

 U	 (1)	 Does the partnership have any foreign (non U.S.) nonresident partners?  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	

(2)	 Does the partnership have any domestic (non-foreign) nonresident partners?  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

	

(3)	 Were Form 592, Form 592-A, Form 592-B, Form 592-F, and Form 592-PTE filed for these partners?  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

 V	 Is this an investment partnership? See General Information O, Investment Partnerships, in the instructions .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
 W	 Is the partnership apportioning or allocating income to California using Schedule R?  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
 X	 Has the partnership included a Reportable Transaction or Listed Transaction within this return?  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	
(See instructions for definitions.) If “Yes,” complete and attach federal Form 8886 for each transaction.
 Y	 Did this partnership file the Federal Schedule M-3 (Form 1065)?  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

	

(2)	 If “Yes,” enter the year of asset disposition  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

•

DD Is the partnership reporting previously deferred income from:	  
EE	 “Doing business as” name. See instructions:

• Installment Sale  

•  • IRC §1031  •  • IRC §1033  •  • Other

• ____________________________________________________________________

FF	 (1)	 Has this partnership operated as another entity type such as a Corporation, S Corporation, General Partnership,
		

•	

Limited Partnership, LLC or Sole Proprietorship in the previous five (5) years? .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

•	

• Yes  • No

	
(2)	 If “Yes”, provide prior FEIN(s) if different, business name(s), and entity type(s) for prior returns filed with
		
the FTB and/or IRS. (see instructions): _______________________________________________________________________________________
GG	 (1) 	 Has this partnership previously operated outside California?  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

	

(2)	 Is this the first year of doing business in California?  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

•	
•	

HH	Is the partnership a section 721(c) partnership, as defined in Treasury Regulations Section 1.721(c)-1T(b)(14)? .  .  .  .  .  .  .  .  .  .  .  .  . 	
II	 At any time during the tax year, were there any transfers between the partnership and its partners subject to the disclosure
	

requirements of Regulations section 1.707-8?  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	

• Aggregated activities for IRC Section 465 at-risk purposes
(2)  • Grouped activities for IRC Section 469 passive activity purposes

• Yes  • No
• Yes  • No
• Yes  • No
• Yes  • No

JJ	 Check if the partnership: (1) 
			

KK	(1) Has this business entity previously filed an unclaimed property Holder Remit Report with the State Controller’s Office?.  .  .  .  .
	

(2) If “Yes,” when was the last report filed? (mm/dd/yyyy)

• ________________

•	

• Yes  • No

(3) Amount last remitted ◾ $____________________ . _______

Our privacy notice can be found in annual tax booklets or online. Go to ftb.ca.gov/privacy to learn about our privacy policy statement, or go to ftb.ca.gov/forms and search for 1131
to locate FTB 1131 EN-SP, Franchise Tax Board Privacy Notice on Collection. To request this notice by mail, call 800.338.0505 and enter form code 948 when instructed.
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct,
and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Date
Sign
Signature of
Telephone
Here
general partner ▶
 
General Partner’s email address (optional)
Paid
Date
PTIN
Check if
Paid
Preparer’s
self-employed •	
Prepar- signature  ▶
er’s Use Firm’s name (or yours if self-employed) and address
Telephone
Firm’s FEIN

•  
•

Only

▶

• 

May the FTB discuss this return with the preparer shown above (see instructions)? . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3663233

•
•  • Yes  • No

Form 565  2023  Side 3

Schedule K  Partners’ Shares of Income, Deductions, Credits, etc.

Other Information

Alternative Minimum
Tax (AMT) Items

Credits

Deductions

Income (Loss)

(a)
Distributive share items

(b)
Amounts from
federal K (1065)

 1	 Ordinary income (loss) from trade or business activities  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 1	
 2	 Net income (loss) from rental real estate activities. Attach federal Form 8825 .  .  .  . 	 2	
 3	 a	 Gross income (loss) from other rental activities  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 3a	
	
b	 Less expenses. Attach schedule  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 3b	
	c	
Net income (loss) from other rental activities. Subtract line 3b from line 3a 	 3c	
 4	 Guaranteed payments  a  Services  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 4a	
	
b	 Capital 	  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 4b	
	
c	 Total 	  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 4c	
 5	 Interest income  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 5	
  6	Dividends	 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 6	
 7	 Royalties	  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 7	
 8	 Net short-term capital gain (loss). Attach Schedule D (565)  .  .  .  .  .  .  .  .  .  .  .  . 	 8	
 9	 Net long-term capital gain (loss). Attach Schedule D (565)  .  .  .  .  .  .  .  .  .  .  .  .  . 	 9	
10	a	 Total gain under IRC Section 1231 (other than due to casualty or theft)  .  . 	 10a	
	
b	 Total loss under IRC Section 1231 (other than due to casualty or theft) .  .  . 	10b	
11	 a	 Other portfolio income (loss). Attach schedule .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 11a	
	
b	 Total other income. Attach schedule  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	11b	
	c	
Total other loss. Attach schedule .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 11c	
12	 Expense deduction for recovery property (IRC Section 179). Attach schedule	12	
13	a	 Cash contributions  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	13a	
	b	
Noncash contributions .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 13b	
	
c	 Investment interest expense  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	
d	 1	 Total expenditures to which IRC Section 59(e) election may apply.  .  .  .  .  .  .
• _____________________________________ .
		
2	 Type of expenditures  
	e	 Deductions related to portfolio income  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	f	
Other deductions. Attach schedule  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
15	 a	 Withholding on partnership allocated to all partners  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	
b	 Low-income housing credit .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	
c	 Credits other than the credit shown on line 15b related to rental real
estate activities  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	
d	 Credits related to other rental activities  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	e	
Nonconsenting nonresident members’ tax allocated to all partners .  .  .  .  .  .  .  .  .
	f	
Other credits  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
17	a	Depreciation adjustment on property placed in service after 1986 . . . . . . . . .
	
b	 Adjusted gain or loss .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	
c	 Depletion (other than oil and gas)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	
d	 Gross income from oil, gas, and geothermal properties  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	
e	 Deductions allocable to oil, gas, and geothermal properties  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	
f	 Other alternative minimum tax items  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
18	 a	 Tax-exempt interest income  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	b	 Other tax-exempt income  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	c	 Nondeductible expenses  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
19	a	 Distributions of money (cash and marketable securities)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	b	 Distribution of property other than money  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
20	a	Investment income  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	
b	 Investment expenses  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	
c	 Other information. See instructions  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

(c)
California
adjustments

•		
		
		
		
		
		
		
		
		
		
		
		
		
		
		
		
		
		
		
		
		

	13c			
	 13d1	 		
	 13d2
	13e	 		
	13f	
		
	15a			
	15b			
	15c			
	15d			
	 15e			
	15f			
	17a	 		
	17b	 		
	17c	 		
	17d	 		
	17e	 		
	17f	
		
	18a	 		
	18b	 		
	18c	 		
	19a	 		
	19b	 		
	 20a	
		
	 20b	
		
	20c	 		

Analysis

21	 a	 Total distributive income/payment items. Combine lines 1, 2, 3c and 4c
	

		

of partner:	

		
(1)  General partners	
		
(2)  Limited partners	

Side 4  Form 565  2023

(a)	
Corporate	

(b)  Individual	
i. Active	

ii.  Passive	

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•
•
•
•
•
•
•
•
•
•
•
•
•

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through 11c. From the result, subtract the sum of lines 12 through 13f  .  .  .  .  .  .  .  .  . 	21a			

b	 Analysis by type	

•
•
•
•

(d)
Total amounts using
California law

(c)	

(d)	

(e)

Partnership	

Exempt Organization	

Nominee/Other

•
•
•
•
•
•
					
•
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•
					

3664233

Schedule A  Cost of Goods Sold

00
00
00
00
00
00
00

 1	 Inventory at beginning of year . .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	  1	
 2	 Purchases less cost of items withdrawn for personal use .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	  2	
 3	 Cost of labor .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	  3	
 4	 Additional IRC Section 263A costs. Attach schedule .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	  4	
 5	 Other costs. Attach schedule.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	  5	
 6	 Total. Add line 1 through line 5 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	  6	
 7	 Inventory at end of year. .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	  7	

 8	 Cost of goods sold. Subtract line 7 from line 6. Enter here and on Side 1, line 2 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	  8	
00
 9	 a	 Check all methods used for valuing closing inventory:
		 (1)  •  Cost  (2)  • Lower of cost or market as described in Treas. Reg. Section 1.471-4   (3)  • Write down of “subnormal” goods as
		
described in Treas. Reg. Section 1.471-2(c)   (4)  • Other. Specify method used and attach explanation ___________________________
	
b	 Check this box if the LIFO inventory method was adopted this taxable year for any goods. If checked, attach federal Form 970. .  .  .  .  .  .  . 	 • 
	
c	 Do the rules of IRC Section 263A (with respect to property produced or acquired for resale) apply to the partnership?.  .  .  .  .  .  .  .  .  .  .  .  .  . 	• Yes  • No
	
d	 Was there any change (other than for IRC Section 263A purposes) in determining quantities, cost, or valuations between opening
and closing inventory? If “Yes,” attach explanation .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 • Yes  • No
Schedule L	 Balance Sheets. See the instructions for Question P before completing
	
Schedules L, M-1, and M-2.
		
Beginning of income year	
End of income year
Assets
		
(a)	(b)	 (c)	 (d)
 1	Cash .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
 2	 a	 Trade notes and accounts receivable .  .  .  .  .  .  .  .  .  .
)
	(	
)
	
b	 Less allowance for bad debts  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	(	
 3	Inventories .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	
 4	 U.S. government obligations .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
 5	 Tax-exempt securities .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
 6	 Other current assets. Attach schedule . . . . . . . . . . . .	
 7	 a	 Loans to partners  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	
b	 Mortgage and real estate loans .  .  .  .  .  .  .  .  .  .  .  .  .  .
 8	 Other investments. Attach schedule .  .  .  .  .  .  .  .  .  .  .  .  . 	
 9	 a	 Buildings and other depreciable assets .  .  .  .  .  .  .  .
	
b	 Less accumulated depreciation .  .  .  .  .  .  .  .  .  .  .  .  .  . 	 	(	
10	 a	 Depletable assets  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	
b	 Less accumulated depletion  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	(	
11	 Land (net of any amortization) .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	
12	 a	 Intangible assets (amortizable only) .  .  .  .  .  .  .  .  .  .
	
b	 Less accumulated amortization .  .  .  .  .  .  .  .  .  .  .  .  .  . 	(	
13	 Other assets. Attach schedule .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
14	 Total assets .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	
Liabilities and Capital
15	 Accounts payable .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
16	 Mortgages, notes, bonds payable in less than 1 year
17	 Other current liabilities. Attach schedule .  .  .  .  .  .  .  .  .  .
18	 All nonrecourse loans .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
19	a	 Loans from partners .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	
b	 Mortgages, notes, bonds payable in
	
1 year or more  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
20	 Other liabilities. Attach schedule .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
21	 Partners’ capital accounts  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
22	 Total liabilities and capital  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

•
•
•

)

	(	

)

)

	(	

)

)

	(	

)

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•

	

•

	
	

•
•

	

•

	
	
	

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•

3665233

Form 565  2023  Side 5

Schedule M-1	 Reconciliation of Income (Loss) per Books With Income (Loss) per Return. Use total amount under California law.
	
If the partnership completed federal Schedule M-3 (Form 1065), see instructions.
1	 Net income (loss) per books  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •  
2	 Income included on Schedule K, line 1 through
line 11c, not recorded on books this year.
Itemize  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
3	 Guaranteed payments (other than health insurance) . •
4	 Expenses recorded on books this year not
included on Schedule K, line 1 through
line 13f. Itemize:
•
	a	
Depreciation .  .  .  .  .  .  .  .  .  .  .  .  . 	$	
•
	b	 Travel and entertainment . .  .  . 	$	
•
	c	 Limited partnership tax .  .  .  .  . 	$	
•
	d	Other .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	$	
	e	 Total. Add line 4a through line 4d  .  .  .  .  .  .  .  .  .  .  .  .  .
5	 Total of line 1 through line 4e  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  

•

•

 

6	 Income recorded on books this year not included
on Schedule K, line 1 through line 11c. Itemize:
•
	 a	 Tax-exempt interest . .  .  .  .  .  .  . 	$	
•
	 b	Other .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	$	
	 c	 Total. Add line 6a and line 6b.  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
7	 Deductions included on Schedule K, line 1 through
line 13f, not charged against book
income this year. Itemize:
•
	a	Depreciation .  .  .  .  .  .  .  .  .  .  .  .  . 	$	
•
	 b	Other .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	$	
	c	 Total. Add line 7a and line 7b  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
8	 Total. Add line 6c and line 7c . .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
9	 Income (loss) (Schedule K, line 21a). Subtract
line 8 from line 5  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •

•

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Schedule M-2  Analysis of Partners’ Capital Accounts. Use California amounts.
1	 Balance at beginning of year  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •
2	 Capital contributed during year:
	 a	 Cash  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
	b	Property  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
3	 Net income (loss) per books  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . •
4	 Other increases. Itemize  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  
		 . .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  
		 . .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .

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Side 6  Form 565  2023

5	 Total of line 1 through line 4  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
6	Distributions:	 a  Cash  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
		
b 
Property  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
7	 Other decreases. Itemize  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
		 . .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
		 . .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
8	 Total of line 6 and line 7 .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .
9	 Balance at end of year. Subtract line 8 from line 5 .  . •  .

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