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If I need to file an amended return for previous year related to Schedule K-1s should I complete those calculations before I file the return for this year?

This may slightly increase refund, but am unsure how it would affect the amounts already imported for this years calculations.

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2 Replies
WillK
Intuit Alumni

If I need to file an amended return for previous year related to Schedule K-1s should I complete those calculations before I file the return for this year?

Yes, you should complete the amended return to make sure the information that is carried forward to this year's return is accurate. If you already filed your return you will need to wait to see if it was rejected or accepted. If they were rejected you are able to login to your return to fix what you need to fix and fix the errors that caused the rejection and refile the return. If your returns were accepted, then you will need to file an amended return. You should not try to amend your return until the original return it has been fully processed and you have received your refund or your payment has cleared.

Amended returns do not “catch up” to your original return and replace them; they are processed as two separate returns.  
Amended returns have to be printed and filed by mail.  It can take the IRS up to 12 weeks or longer to process them.   If you are due a larger refund than on your original return, your amended return should only show the difference and you will receive a separate check for it.  If you owe money on your amended return, it will show only the new amount owed, you will have to mail a check with the return. You can check the status of your amended return by clicking here: https://www.irs.gov/filing/individuals/amended-returns-form-1040-x-/wheres-my-amended-return-1

 Click here for amending instructions: https://ttlc.intuit.com/replies/3288565

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If I need to file an amended return for previous year related to Schedule K-1s should I complete those calculations before I file the return for this year?

Once I complete the amended return, how do I replace the import of the 2017 return to the 2018 version with that of the amended 2017 return? Does this affect my coverage by Tax Audit Defense?

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