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zztod
New Member

I received a schedule K1 after filing. The only items on it are final year deductions and tax-exempt interest - both small amounts. Do I need to file and amended return?

 
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zeiguzunt
New Member

I received a schedule K1 after filing. The only items on it are final year deductions and tax-exempt interest - both small amounts. Do I need to file and amended return?

How small is small.  If the amounts are just a few dollars, I would not bother.  If you're talking $1,000 and the amount seems small to you because your income is $250,000, definitely report them.

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1 Reply
zeiguzunt
New Member

I received a schedule K1 after filing. The only items on it are final year deductions and tax-exempt interest - both small amounts. Do I need to file and amended return?

How small is small.  If the amounts are just a few dollars, I would not bother.  If you're talking $1,000 and the amount seems small to you because your income is $250,000, definitely report them.

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