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dmkthomas
New Member

Filed taxes using 1040 joint form and now April 16th received a K-1(541). Capital loss carryover of $800. Do I have to amend my return and file this?

K-1 is on deceased dads living trust. 

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2 Replies

Filed taxes using 1040 joint form and now April 16th received a K-1(541). Capital loss carryover of $800. Do I have to amend my return and file this?

You should have both a 1041 K-1 (federal) and a 541 K-1(CA state).
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
JulieCo
New Member

Filed taxes using 1040 joint form and now April 16th received a K-1(541). Capital loss carryover of $800. Do I have to amend my return and file this?

Yes, you should amend your federal and state returns to include the K-1 form.  Note that amended returns need to be printed and mailed as they cannot be e-filed.  See the instructions for creating an amended return in TurboTax below:

https://ttlc.intuit.com/replies/7276605

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