MYCPE ONE

Top 10 Form 1065 Issues 2 Credits 2 Credits

Dec 18, 2025, 12:30 PM EDT

Top 10 Form 1065 Issues 2 Credits 2 Credits

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Dec 18, 2025, 12:30 PM EDT

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Important Note: This course was developed prior to the enactment of the One Big Beautiful Bill (OBBB), and content may not reflect the latest tax reforms. We are actively updating our courses to reflect the new legislation.

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AI Review Summary

Generated by AI based on all course reviews

Learning Objectives

  • Identify and correct improper entity classification issues.
  • Implement effective partnership agreements to avoid common pitfalls.
  • Accurately report property contributions and handle built-in gains or losses.
  • Recognize and manage the tax implications of partnership syndicates.
  • Navigate the complexities of liquidating distributions and their tax consequences.

Course Overview

Don’t let Form 1065 errors derail your financial reporting! 

This online course dives deep into the most common mistakes made with Form 1065 and equips you with the knowledge to avoid them. Gain clarity on complex issues like improper entity classification, the importance of partnership agreements, and accurate reporting of property contributions. Our expert, Nicholas Preusch, will guide you through practical solutions and best practices, ensuring you can confidently handle the intricacies of partnership taxation.

We’ll cover essential topics such as correctly classifying entities, the necessity of formal partnership agreements, and the nuances of reporting property contributions and distributions. You’ll also explore the implications of partnership syndicates and the correct approach to liquidating distributions. With a focus on real-world applications, this course will help you implement effective strategies to avoid costly mistakes and maintain compliance with tax regulations.

Key Topics:

  • Improper Entity Classification
  • Importance of Partnership/LLC Agreements
  • Reporting Property Contributions and Distributions
  • Handling Partnership Syndicates
  • Managing Liquidating Distributions

By the end of the course, you’ll be well-versed in preventing common Form 1065 errors. You’ll learn how to ensure proper entity classification, establish and maintain essential partnership agreements, accurately handle property contributions, and avoid pitfalls related to syndicates and liquidating distributions. Whether you are new to partnership tax reporting or looking to refine your expertise, this course provides the tools and insights needed to excel.

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 2 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02131-24-S) 2 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02131-24-S) 2 CE Approved
California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-01716) 2 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02131-24-S) 2 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Eligible
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02131-24-S) 2 CE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-02131-24-S) 2 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Eligible
Taxes for Maine Licensed Public Accountant (ME-LPA) 2 CPE Eligible
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 2 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02131-24-O) 2 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02131-24-O) 2 CE Approved
California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-01716) 2 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02131-24-O) 2 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Eligible
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02131-24-O) 2 CE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-02131-24-O) 2 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Eligible
Taxes for Maine Licensed Public Accountant (ME-LPA) 2 CPE Eligible

Additional Information

Credits

2

Credits

2

Course Level

Intermediate

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC, in accordance with the standards set forth in Circular 230 section 10.6, grants Continuing Education (CE) credits based on a 50-minute hour. MY-CPE LLC is approved by the California Tax Education Council (CTEC) (Provider Number – 6273) to offer continuing education courses that count towards the annual continuing education requirement for CTEC Registered Tax Preparers. Additional information regarding registration as a tax preparer can be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free at (877) 850-2832, or by visiting www.ctec.org.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Looking to fulfill your Enrolled Agent (EA) Continuing Education (CE) requirements? MY-CPE online Enrolled Agent CE courses are the best for you. Earn EA CE Credits while enhancing your domain knowledge and expertise in diverse tax regulations and practices. Our courses are designed to provide you with the latest updates and deep insights to keep you ahead in your field. With flexible scheduling and a user-friendly platform, MY-CPE offers you a greater convenient and interactive learning experience. Join MY-CPE today and take the next step in advancing your career as an Enrolled Agent. 

About Instructor

Nicholas Preusch

Nicholas Preusch | CPA (US)

Certified Public Accountant (CPA), Nicholas Preusch

  • 4.5
  • rating
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Nicholas has worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nicholas has authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties and Circular 230 Enforcement, published by Thomson Reuters. Nicholas has been recognized as the Top 5 Under 35 CPAs in Virginia, and is a member of the  AICPA’s Tax Executive Committee. Nicholas is an adjunct professor at the University of Mary Washington. He is a graduate of Carthage College, University of Connecticut (M.S. in Accounting), Case Western Reserve University School of Law (J.D.), and Georgetown University (LLM in Taxation).

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. Our courses qualify for credits with NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses accepted by NASBA and other professional organizations?

MY-CPE LLC courses are accepted for continuing education credit by various professional certification programs, including NASBA, IRS, CFP Board, and HRCI. MY-CPE LLC is also recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® and SHRM-SCP® recertification activities.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. Our courses qualify for credits with NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars accepted by NASBA and other Professional Organizations?

MY-CPE LLC courses are accepted for continuing education credit by various professional certification programs, including NASBA, IRS, CFP Board, and HRCI. MY-CPE LLC is also recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® and SHRM-SCP® recertification activities.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are accepted for compliance and reporting purposes with NASBA, IRS, CFP Board, HRCI, SHRM (for PDCs), Payroll Org, FP Canada, and 25+ other professional organizations.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

Excellent (69%)

Very Good (25%)

Average (6%)

Poor

Terrible

VR

Vanessa Rios, EA

5

The instructor was very interactive by showing examples in the spreadsheet and PDF or IRS information. Just a suggestion for time purposes he should already have the spreadsheets prepared with the information and then make the changes or talk about it as he goes through it. Also for my-cpe, it would be great if you have the option to increase the speed to at least 1.5x for on demand video. Other providers do it (NATPA, NAEA) and it works great.

DL

Devorah Leibler, EA

5

The course was very informative and taught in an engaging way with real-life examples. The spreadsheets and visual snippets of the form were very helpful. The instructor raised some great points about partnership taxation and explained them clearly. I highly recommend this course for anyone interested in partnership taxation and look forward to more courses from this instructor.

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Top 10 Form 1065

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    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting

    Certifications & Reporting

    We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.

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    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

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    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

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