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StonecoldMike
Returning Member

I inadvertently filed a K-1

The CPA handling my late mother's trust fund disbursements to myself, spouse, and children filed a K-1 and for whatever reason I filed it also not knowing that he had done so.  I received his paperwork in the mail two days before tax day and so I field an extension in order to file an amendment through turbo tax but now I need to reverse all that because I wasn't even supposed to file that.  The CPA in California had already done that.  How do I go about correcting this.

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2 Replies

I inadvertently filed a K-1

you're saying you filed a 1041 that was a duplicate(?) of the 1041 the CPA filed. Did both filings use the same EIN/TIN number? did moth reflect exactly the same items on the 1041?  if so, I would do nothing. Wait to see if the IRS sends a notice and respond accordingly.

if different EIN/TIN or amounts which one is correct? the incorrect one would need an amended return showing all zeros for amounts. If there are differing amounts between the two, then both need amending - one all zero's and the other reporting the correct amounts using the correct EIN.  

StonecoldMike
Returning Member

I inadvertently filed a K-1

Yes I filed the duplicate.  Honestly it was late at night and I was finishing up taxes on an amendment and I entered in the information that was on the form 1041.  Of course, had I been paying attention I would have realized that these are the printed forms after they were filed by that CPA and he simply mailed them to me to keep for my files, but I went and entered the exact same amounts onto the K-1, including the EIN.  The bigger issue is that upon seeing the massive liability it says I owe, I prepared my account with funds from my savings to set up a payment for auto debit.  When I realized what I had done, I quickly transferred the money back from my checking to my savings.  But I don't want there to be this tax balance just sitting out there so that's why I was asking about how to pull that back like I never did it.  The CPA's filing was the correct one and should stay.

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