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New Member
posted Oct 4, 2023 4:16:01 PM

Amended return to reflect change in K1 Partner ownership %

A partnership files form 1065 and distributes K-1s to the only two owner/partners. The K-1s show ownership % amount for each partner.  I need to amend the return to show a change in the % for each partner that we failed to change on the original filing.   How best to go about Amending?

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2 Replies
Level 15
Oct 4, 2023 4:20:38 PM

Are you using TurboTax Business?

 

You simply indicate you're filing an amended return in the program. Note that you will have to print and mail the return.

New Member
Oct 4, 2023 4:33:57 PM

Yes, TurboTax Business.  Do I have to amend the K1 to show the new ownership %