Changed my S Corp after personal return was filed which affected only k-1

[Raeka]

My K-1 slightly changed so I think I need to amend my 2022 personal return otherwise when I import last year's return, it will pull in wrong info. My question is how complicated or easy will it be? The only thing that needs changing on personal return is that K-1 figure and its $32. Will I have to walk through the entire personal return or will it allow me to just go to k-1 and amend return?

Thanks for any help.

[DavidD66]

I would not file an amended return for a $32 change to your K-1.  If the change would cause you to owe additional tax, it is possible that the IRS will propose a change to your return and send you a notice.  All you will have to do, if you agree, is pay the additional tax.  Give the amount of the change, I find that to be unlikely.  If you want to amend your tax return, you will not have to walk through the entire return.  You will be able to make the change to the K-1, provide an explanation, and finalize your amended return.

[Raeka]

Thank you for the advice and the instruction. The k-1 showed a loss, but I understand what you're saying as that will still slightly increase the income.

Thank you!

[Raeka · Accepted solution]

If I do amend it, what section do I choose when it asks me what part I want to amend. I was looking and k-1s aren't listed.

Edit: Finally got there. Went to all of the categories listed till found one that included K-1s.