how to create an amended K-1 in TurboTax Business 2023

[Kittyfriend]

I  created an amended 1065-X in TurboTax Business 2023 which I understand I have to mail in.  I missed including cash distributions and I can see where the net change and correct amount is now included on the 1065-X.  However, the K-1s for Part III, line 19 Distributions remain blank.  How do I create amended K-1s?

I had already completed the K1 section in TurboTax Premier prior to amending the 1065.  How do I get the corrected distribution amounts into the K-1 section of TurboTax Premier so that I can finish our Federal taxes and E-file?  As long as I have the corrected info in my Federal Taxes, can I still e-file while my amended 1065-X is in the mail to the IRS?

[PatriciaV · Accepted solution]

How did you enter the distributions on the amended business return? If you entered the distributions in the Partner/Member Info section of the interview or directly on the Sch K-1 Wks, the amounts should transfer to Section L of the K-1s. Also, make sure the Information Wks has a check in the Yes box under Partner Printing Options.

If you have the corrected information from the amended return, you can use that on your personal return. Be sure to mark that you received an amended K-1 on the page "Describe the Partnership."

[Kittyfriend]

Thank you very much for the information.  When I selected that I wish to file an amended return, it brought me directly to the 1065X Form to make changes.  I will go back in and follow  your recommended steps, as TurboTax seems to be written for those who would already know where to go to make corrections.  I had expected it to ask me a question starting with do you have more than one correction to make, and then perhaps display a blank K-1 that says check the box next to the line item(s) you need to correct, something like that, to guide us non tax experts on how to input the corrections.  It would then take you to the interview questions corresponding to the boxes you checked as needing correction.  Again, thanks very much for taking the time to reply.  Appreciate it.