Intuit Academy Tax Practice Exam 2025 – All-in-One Guide for Exam Mastery!

A partnership uses Form 1065 to report its income. This form is specifically designed for reporting the income, deductions, gains, losses, etc., of a partnership. Unlike corporations, partnerships do not pay income tax at the entity level; instead, they pass the income through to the individual partners. Each partner then reports their share of the income on their personal tax returns, typically using Schedule K-1, which is attached to Form 1065.

Form 1040 is used for individual income tax returns and is not applicable for partnerships directly. Form 1120 is intended for corporations, specifically C corporations, and it is used to report corporate income. Form 941 is a quarterly tax form that employers use to report income taxes, Social Security tax, and Medicare tax withheld from employee paychecks, which is unrelated to partnership income reporting. Thus, Form 1065 is the appropriate choice as it fulfills the specific reporting requirements for partnerships.