my 2022 return included a K1, I now received a revision as the stated income on the original K1 was too high,
My income should have been 2500$ lower. Based on my marginal tax rate, there would be a tax relief of a few 100 dollars. How do I best handle it. Can I wait until 2023 taxes, when I get again a K1 from the company and somehow include the 2022 revision? or do I file a amended tax return now for 2022?
thanks
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If you received an amended K-1, the post is not clear, then you need to amend the 2022 tax return to claim any potential refund.
thanks Rick
yes I got another K1 for 2022, so will amend my taxreturn, I assume there is no issue doing it that late in the year..
No there is not.
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