TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 2

Question

Under Reported Income

Forum|Forum|5 years ago
April 20, 2021
1 reply
0 views

No text available

TurboTax Home & Biz Windows

Community Manager

Community Manager

We'd love to help you complete your tax return, but need more information. Can you please clarify your question?

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Marsele MRBAuthor

Level 2

The person filling out the 1065 form inaccurately stated income by $16,000. Therefore, my k-1 under reported my K-1 income by $4,000. Is this enough of a difference to have me update the K-1 I file to be accurate or should I use the inaccurate figures?

Level 15

You should always accurately report your income. The issuer of the K-1 needs to issue you a new form with correct imformation.