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Level 2
posted Apr 10, 2021 6:35:52 AM

1099-G Reporting on the K-1

We just received a 1099-G and already filed our K-1.  Where does the 1099-G info go on the K-1 and how do I file an amended one?

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3 Replies
Expert Alumni
Apr 11, 2021 8:52:16 AM

Is this an IRS Form 1120-S or something else?  Is the IRS Form 1099-G reporting taxable grants or something else?  Please clarify.

 

To amend your 2020 Form 1120S prepared in TurboTax Business, Go to Federal Taxes>>Other.   Don't make any changes to what you originally filed until the amendment process has started.  Continue through the screens, without making any changes, until you reach the "Amended Return" screen.  Select the Yes and TurboTax will guide you from there.  

Level 2
Apr 11, 2021 8:55:42 AM

Thanks James...It is a 1099-G. The county gave the partnership a taxable grant of $3,000.  The K-1 was issued before the 1099-G came.  I think the K-1 has to be amended.  

Expert Alumni
Apr 11, 2021 8:59:25 AM

You would be correct - the K-1 should be amended to include the taxable grant as income.