Course curriculum

  • 01


    • Partnership Income Tax (Form 1065)

  • 02

    Comprehensive Problem

    • Documents to Download

    • Comp 1 Partnership Comprehensive Problem Part 1 Review Data

    • Comp 2 Partnership Comprehensive Problem Part 2 Excel Worksheet

    • Comp 3 Partnership Comprehensive Problem Part 3 Review Tax Return

    • Comp 4 Partnership Comprehensive Problem Part 4 Enter Beginning Balances

    • Comp 5 Partnership Comprehensive Problem Part 5 Depreciation Schedules

    • Comp 6 Partnership Comprehensive Problem Part 6 Balance Sheet

    • Comp 7 Partnership Comprehensive Problem Part 7 Income Statement

    • Comp 8 Partnership Comprehensive Problem Part 8 Balance The Balance Sheet

    • Comp 9 Partnership Comprehensive Problem Part 9 Purchase of Equipment

    • Comp 10 Partnership Comprehensive Problem Part 10 M-1 Depreciation

    • Comp 11 Partnership Comprehensive Problem Part 11 M-1 Sale of Equipment

    • Comp 12 Partnership Comprehensive Problem Part 12 Sch. K Dividend Income

    • Comp 13 Partnership Comprehensive Problem Part 13 Sch. K Interest Income

    • Comp 14 Partnership Comprehensive Problem Part 14 Sch. D Sale

    • Comp 15 Partnership Comprehensive Problem Part 15 Sch. K Contributions

    • Comp 16 Partnership Comprehensive Problem Part 16 M-1 Tax Exempt Interest

    • Comp 17 Partnership Comprehensive Problem Part 17 M-1 Meals

    • Comp 18 Partnership Comprehensive Problem Part 18 COGS

    • Comp 19 Partnership Comprehensive Problem Part 19 Sch K-1

    • Comp 20 Partnership Comprehensive Problem Part 20 Diagnostics & Review

    • Comp 21 Partnership Comprehensive Problem Part 21 K-1 To Form 1040


This course currently consists of a comprehensive problem showing the data input process of a Partnership into tax Form 1065.

This course will put together a systematic format of entering data into a Form 1065 that will minimize errors, isolate problems as they happen, and remove the possibility of having to start the process all over again.

We will enter each M-1 adjustment individually into both the tax return and an Excel worksheet so that we fully understand how they work.

We will start by reviewing the data for the comprehensive problem.

Then we will enter the data into an Excel worksheet that will be used to help us organize the information.

We will be using Lacerte Tax software to enter the tax data into Form 1065. However, we will also provide PDF files of the tax forms so learners can enter the data directly into the tax forms as we go. The tax forms can also be found on the IRS website.

The course will demonstrate how to enter the data into the tax forms in stages to reduce potential mistakes and to identify mistakes as they happen so they can be fixed as easily as possible.

We will start the data input with the balance sheet.

Then we will enter the income statement as it is formatted in the adjusted trial balance.

Next, we will systematically go through Schedule K and M-1 adjustments. We will isolate these adjustments, reviewing them on the tax forms, in the software, and using our Excel worksheet.

We will then review the tax forms.

Next, we will review the Form K-1s and basic calculations.

The course will demonstrate the exporting of the K-1 Form to the individual Form 1040 for an owner of the Partnership, showing the flow through process.

Who this course is for:
  • Tax professionals
  • Business owners considering a Partnership form of business entity
  • Tax and accounting students

Robert (Bob) Steele CPA CGMA CPI MStax


Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his.

Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA).

Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software.

In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, and How Too, and has developed supplemental resources including a Facebook Page, Twitter Page, and Podcasts that can be found on I-tunes, Stitcher, or Soundcloud. Mr. Steele’s teaching philosophy is to make content applicable, understandable, and accessible.

Adult learners are looking for application when they learn new skills. In other words, learners want to be able to apply skills in the real world to help their lives. Mr. Steele’s formal accounting education, practical work experience, and substantial teaching experience allow him to create a curriculum that combines traditional accounting education with practical knowledge and application. He accomplishes the goals of making accounting useful and applicable by combining theory with real-world software like Excel and QuickBooks.

Many courses teach QuickBooks data entry or Excel functions but are not providing the real value learners want. Real value is a result of learning technical skills like applications, in conjunction with specific goals, like accounting goals, including being able to interpret the performance of a business.

Mr. Steele makes knowledge understandable by breaking down complex concepts into smaller units with specific objectives and using step by step learning processes to understand each unit. Many accounting textbooks cram way too much information into a course, making it impossible to understand any unit fully. By breaking the content down into digestible chunks, we can move forward much faster.

Mr. Steele also makes use of color association in both presentations and Excel worksheets, a learning tool often overlooked in the accounting field, but one that can vastly improve the speed and comprehension of learning accounting concepts.

The material is also made understandable through the application of concepts learned. Courses will typically demonstrate the accounting concepts and then provide an Excel worksheet or practice problems to work through the concepts covered. The practice problems will be accompanied by an instructional video to work through the problem in step by step format. Excel worksheets will be preformatted, usually including an answer tab that shows the completed problem, and a practice tab where learners can complete the problem along with a step by step presentation video.

Mr. Steele makes learning accounting accessible by making use of technology and partnering with teaching platforms that have a vision of spreading knowledge.