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Level 1
posted May 22, 2022 9:41:00 AM

I need to submit an amended 1120-S for my S corp. The Schedule K isn't affected by the amendment. Will the IRS require me to submit a revised K-1 to my lone shareholder?

Single-member S Corp

0 3 479
3 Replies
Level 15
May 22, 2022 10:30:48 AM

what are you amending that doesn't affect schedule K? it may be that an amended return is not required.

 

Level 1
May 22, 2022 1:41:35 PM

Estimated taxes paid were not required. S Corp is due a refund. Don't believe that impacts the schedule K. Is an amended return required?

Level 15
May 22, 2022 3:18:33 PM

How did you even pay estimates for an S-corp ?   Normally they are made personally using the SS# of the owner  and not the company's EIN.  

 

If that is all that changed on the 1120S then it would not affect the K-1 so no amended K-1 form needs to be issued.