turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Already filed for 2016, just notified I will receive a K-1 Form. Do I need to request an extension or just amend return when form comes?

I already filed my 2016 return and received my refund.  However, was just informed that I will be receiving a 1099 and a K-1 Form (of $61.31) for stock I have in a Company that switched over in 2016 to giving gain disbursements (no clue this happened until recently).  Can I use Turbo Tax to amend my return when I get the forms (Should get them in the next 1-2 months they said).  Is there a time limit to file once I receive the forms? Do I need to file for an extension or not since I already filed for 2016?   I am so confused…

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

Already filed for 2016, just notified I will receive a K-1 Form. Do I need to request an extension or just amend return when form comes?

Since you have already filed your tax return, there is no need for an extension request.

You will have to amend the tax return that was filed and accepted by the IRS.  An amended tax return can only be printed and mailed, it cannot be e-filed.  You can amend your tax return at any time.  If the amended return indicates that there will be taxes owed, then you there will be a late payment penalty for those taxes owed.  The IRS will send you a bill in the mail for any penalties.  If the amended return indicates that there is a tax refund, then the IRS will send you the refund as a check in the mail.

See this TurboTax support FAQ for amending a 2016 tax return - https://ttlc.intuit.com/questions/3061514-how-do-i-amend-a-2016-return-in-turbotax

View solution in original post

1 Reply

Already filed for 2016, just notified I will receive a K-1 Form. Do I need to request an extension or just amend return when form comes?

Since you have already filed your tax return, there is no need for an extension request.

You will have to amend the tax return that was filed and accepted by the IRS.  An amended tax return can only be printed and mailed, it cannot be e-filed.  You can amend your tax return at any time.  If the amended return indicates that there will be taxes owed, then you there will be a late payment penalty for those taxes owed.  The IRS will send you a bill in the mail for any penalties.  If the amended return indicates that there is a tax refund, then the IRS will send you the refund as a check in the mail.

See this TurboTax support FAQ for amending a 2016 tax return - https://ttlc.intuit.com/questions/3061514-how-do-i-amend-a-2016-return-in-turbotax

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies