A partnership files its tax return using which form?

A partnership files its tax return using Form 1065, which is specifically designed for partnerships to report their income, deductions, gains, and losses. This form serves as an informational return, meaning the partnership itself does not pay income tax directly. Instead, the income is passed through to the individual partners, who report it on their personal tax returns. This structure allows for the flexibility of partnerships in tax treatment while ensuring that the tax liability is ultimately borne by the partners based on their share of the partnership's earnings.

The other forms listed serve different entities and purposes. Form 1040 is used for individual income tax returns, while Form 1120 is for corporations to report their income and deductions. Form 990 is used by tax-exempt organizations to provide the IRS with information about their activities, governance, and detailed financials. Understanding the specific use of each form is crucial for correctly categorizing and filing tax returns for various business entities.