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Follow the steps below to amend your 2025 tax return to add your Schedule K-1 and gambling losses:
Refer to the TurboTax articles: Amending Your Income Tax Return and How to Correct Federal Tax Returns for additional information.
Once you file your amendment, you can check the status of your amended tax return at Where’s My Amended Return?
You can deduct gambling losses but only to the extent of your gambling winnings. You can't deduct the losses without reporting any winnings and you have to itemize your deductions on Schedule A. If you don't have enough Itemized deductions, you won't be able to deduct your losses.
Refer to the TurboTax article Can You Claim Gambling Losses on Your Taxes?
you may have to upgrade to Premier because the lower versions can't handle a K-1, You have to wait for your return to be fully processed (receive your refund or your payment deducted) to amend.
Then see this TurboTax page for amending
How to amend a TurboTax return
gambling winnings are taxable, while losses are only deductible if you itemize your deductions and the deductible losses can't exceed your gambling winnings.
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