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Level 2

Question

Do I need to amend my 2020 return for a Schedule K-1 form that I received after filing if the shares are held in a brokerage account and I have received no income.?

Forum|Forum|5 years ago
March 12, 2021
2 replies
11 views

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TurboTax Self Employed Online

Level 15

Take a look at the K-1 to determine whether it is being reported under your Social Security number or under the number of your IRA account. If your Social Security number is shown as the 'owner' of the K-1, then you do need to amend your return to include the income and deductions reported on the K-1.

For your reference, here are instructions for amending: How to amend (change or correct) a return you already filed

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Level 2

Yes. I will need to wait until the 25th before the I am able to amend my return according to the steps in Turbo Tax.