Form 1065 is used by partnerships to report their income, deductions, gains, and losses to the Internal Revenue Service (IRS). The form provides a summary of the partnership's financial activities for the year and is essential for determining each partner's share of the income or loss. The Form 1065 Instructions guide partnerships on how to complete the form accurately. They include details on required information, such as the partnership's name, address, and taxpayer identification number, as well as specific line-by-line instructions to ensure compliance with tax regulations.