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2025›Instructions for Form 1065›General Instructions

Partner’s Dealings With Partnership

Instruction 1065 — Instructions for Form 1065, U.S. Return of Partnership Income · 2026-10-03 edition · updated 2026-10-04 · United States

If a partner engages in a transaction with the partnership, other than in the capacity as a partner, the partner is treated as not being a member of the partnership for that transaction. Special rules apply to sales or exchanges of property between partnerships and certain persons, as explained in Pub. 541.

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▸Contents — Instruction 1065 — Instructions for Form 1065, U.S. Return of Partnership Income
Instruction 1065 — Instructions for Form 1065, U.S. Return of Partnership Income

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