Hello everyone. I just received a "Schedule K-1 (Form 1065)" but have already submitted our taxes. I have already received our tax refund. What do I need to do?

Schedule K-1 (Form 1065) reports your allocation of income from a partnership of which you are a member. This income has to be reported on your tax return.

 

As your tax return is already accepted, you will need to amend your return to include the Schedule K-1.

 

Please be aware that Form 1040X will not be available in TurboTax until March 25, 2021, but once it is available, you will be able to prepare and e-file your amended return.

 

Please see this TurboTax FAQ for instructions on how to amend your tax return in TurboTax.

 

You will need to amend your tax return, however, I would wait until after April 15th to do so at a minimum.