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jlo72
New Member

I received k-1s for the first time this year. I didn't know I would get them so received after filing. The k-1s all have $0 income earned. Do I need to amend my returns?

 
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3 Replies
Anonymous
Not applicable

I received k-1s for the first time this year. I didn't know I would get them so received after filing. The k-1s all have $0 income earned. Do I need to amend my returns?

if there are 0's on all lines there's nothing to report so an amended return is not necessary.  if some lines are non-zero tell us the line number and whether the k-1 is for S-corp, Partnership, or Trust or Estate. some lines don't need to be reported

jlo72
New Member

I received k-1s for the first time this year. I didn't know I would get them so received after filing. The k-1s all have $0 income earned. Do I need to amend my returns?

They are Partnerships. One K-1 has all lines 0. The other has all income associated lines as 0. the only non-zerod line is J partners share (and has a positive % share of capital).

I received k-1s for the first time this year. I didn't know I would get them so received after filing. The k-1s all have $0 income earned. Do I need to amend my returns?

your K-1 is a courtesy K-1 confirming to you that there is nothing to report.

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