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smcnees01
New Member

K1s marked final by mistake

Hello,

Form 1065 was filed recently and while the main form was not marked final, each of the attached K1s were marked final by mistake.  They also had no codes associated with lines 14a nor 19a (they should have been marked with Code A).  Does the LLC need to amend anything with the IRS, or can the K1s simply be corrected and sent to the partners - none have submitted their individual returns yet and there is no change to any of the allocations for any of the three partners.

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1 Reply

K1s marked final by mistake

Yes, the LLC should file an amended Form 1065 to correct the errors. Since the K-1s were marked as final by mistake, and there were missing codes for lines 14a and 19a, it's important to correct these issues to ensure accurate reporting for the partners. When amending, make sure to check the "Amended Return" box on Form 1065 and provide the corrected K-1s to each partner. This will help maintain accurate tax records and ensure compliance with IRS requirements.

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