Tax Year Prior to 2020: I received a K-1 after filing my taxes. The K-1 doesn't change the bottom line on my 1065. Should I amend my return if no amounts change?

[DianeC958]

If there are amounts in boxes on your form K-1, Yes you need to file an amended return and include the information.  If the K-1 you received does not have any numbers in the boxes then you do not need to file an amended return.

[Feoktisa Snegirev 67]

Ok I need to do that amend ,2019 taxes can u help me

[DianeC958]

How to Amend Your Return Using TurboTax

Once you have completed the changes to your return you will need to print, sign, date the return and mail the information according to the instructions that print out with the return.

[BillieAnne]

to clarify  when you say" in the boxes"  you would be referring to Box11(A) and or any of the boxes under PartIII 

Received K-1 with 2a ordinary dividends 21,147

Box 11  inform  with deductions in excess of income by 68,276

This addition deduction is not going to make any difference on 1040-SR 

Her income is 22,000 and deductions already 68,000 

I read that is adding the K-1 did not change the outcome, I do not need to send an addendum.

Is this true? 

Do i need to reopen the filing and see what the results would be if I did add the k-1?

If so how would I do that? 

[VictorW9]

Even though adding the K-1 doesn't make any difference to the bottom line, it is imperative that you report all income that you received, all K-1s included.

[BillieAnne]

my next steps    I click on amend/change form and follow directions.  Is there a cost?

[DavidD66]

If you are amending a Form 1065, there is no additional charge, as you can prepare an unlimited number of returns using the software you purchased.

[BillieAnne]

Great   now I have gone into Amend and there is no where to find adding K-1 form under income   Where do I find this and what information is to be entered?  that on the Box 11 A only?

[ThomasM125]

You need to go to the "Business Info" section, and then look for the option "Schedule K-1 received by the business" and edit that option to change the response to "Yes". You will then see an option to enter your schedule K-1 in the income section.