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bpete2000
New Member

Received K1 after filing my taxes

I filed my taxes on March 9th and today I received a K1.  My brokerage account listed the investment in the 1099 so I thought the investment was included.  But the K1 is more detailed and includes 18-20 items listed. (Various incomes and losses and distributions, etc.)  I assume I need to file an amended return.  My return has been accepted and is still being processed.  Should amend it today or should I wait until the return has been processed?

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1 Reply
JamesG1
Expert Alumni

Received K1 after filing my taxes

You should wait until the tax return has been accepted and processed and a refund received (if there is one.)

 

If you used TurboTax Online, log in to your account and select Amend a return that was filed and accepted.

 

If you used the CD/download product, sign back into your return and select Amend a filed return

 

See also this TurboTax Help.

 

In TurboTax Online, follow these steps to report an IRS Schedule K-1:

 

  • Down the left side of the screen, click on Federal.
  • Down the left side of the screen, click on Wages & Income.
  • Scroll down to S-corps, Partnerships, and Trusts and click the down arrow to the right.
  • Select Start/Revisit to the right of Schedule K-1.
  • At the screen Tell us about your Schedule K-1, you tell the software which Schedule K-1 you received.
  • For several screens, you will be entering data right off the K-1 form and the attachments.

 

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