2025›Instructions for Form 1065›General Instructions

Termination of the Partnership

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

A partnership terminates when all its operations are discontinued and no part of any business, financial operation, or venture is continued by any of its partners in a partnership.

The partnership’s tax year ends on the date of termination which is the date the partnership winds up its affairs. Special rules apply in the case of a merger, consolidation, or division of a partnership. See Regulations sections 1.708-1(c) and (d) for details. Also see IRS.gov/Newsroom/Questions-and-answers- about-technical-terminations-Internal-Revenue-Code-IRC- sec-708 .

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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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