K-1 vs broker 1099 and tax amend

[john1922]

I just received 3 K-1 for stocks I bought. I filed my tax already do I have to amend it? Isn't lose/profit on K-1 from stock (ETF) I bought reported on my broker 1099 already?

[Irene2805]

Yes and No.

Yes - Compare the K-1s you received with the 1099B you entered to see if there is additional information on the K-1 that will make a difference on your tax return.  Examples include foreign taxes paid and qualified business income (QBI) information.  If there is, you may wish to amend your return.

No - If there is no additional information on the K-1, then there is no need to amend your return.

In general, it is better to enter the K-1s on the return instead of the 1099-B since the K-1s usually contain more detail.  [Don't enter both because you may duplicate information.]