Partnership Return

[tbamaze]

I have a new client that needs a Form 1065 completed for their partnership so they can use the K-1 on their personal return. They do not have good accounting records just amounts typed on a paper.  I am new to preparing partnership returns and a little skeptical given not very good accounting records.  They provided a prior year 1065 prepared by their pervious tax person.  Would other's take this work on?  What do you require from clients to work on a Form 1065?

[sjrcpa]

I would not take it on.

I need a Trial Balance, Income Statement, Balance Sheet and bank reconciliation, at a minimum. And the :Partnership Agreement.

If no extension was filed, the return is late, too.

[abctax55]

One question... why'd they leave the prior preparer?  That answer is often quite telling; perhaps they were kicked to the curb because of the poor record keeping.

IMHO - you should pass on this.  It's likely to be nothing but a can of worms.

IF you do decide to continue.... get a retainer up front.