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I forgot to enter my s/Corp k1 form , on my tax these year !! And it’ll all done and sended with turbo tax!!!

My tax returns it’s on my bank ready!!!
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MichaelMc
New Member

I forgot to enter my s/Corp k1 form , on my tax these year !! And it’ll all done and sended with turbo tax!!!

No reason to worry! Since your refund has already been processed, you will be able to amend your 2018 tax return to include your Form K-1 information, disregarding the first two paragraphs below.

If you have already filed your original tax return for 2018 please do not file an amendment before allowing sufficient time for the IRS to process your original tax return. Doing so could cause confusion at the IRS and result in substantial delays for you.

Allow the IRS to process your original return and issue any refund that was claimed on that return. Only then should you file an amendment, paying back any excess refund that you received or claiming any additional refund due to you as a result of the amendment.

The IRS allows you to file an amended return only to correct your filing status, to cure any errors you make in claiming dependents, to increase or decrease the amount of income you originally reported (such as including an omitted Form W-2 or Form 1099), and to add or eliminate any deduction or credit.

Amended returns cannot be e-filed. Your must print, sign, and mail Form 1040X, along with a corrected copy of any affected form or schedule.

If the original return includes mathematical errors that affect your tax liability, you should provide the IRS with sufficient time from the original filing date to fix the error; generally, the IRS can detect and correct math errors on tax returns within a reasonable amount of time. The IRS will notify you of any change it makes to your tax return. If additional changes are still necessary after receiving notice, only then should you amend the tax return.


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2 Replies
MichaelMc
New Member

I forgot to enter my s/Corp k1 form , on my tax these year !! And it’ll all done and sended with turbo tax!!!

No reason to worry! Since your refund has already been processed, you will be able to amend your 2018 tax return to include your Form K-1 information, disregarding the first two paragraphs below.

If you have already filed your original tax return for 2018 please do not file an amendment before allowing sufficient time for the IRS to process your original tax return. Doing so could cause confusion at the IRS and result in substantial delays for you.

Allow the IRS to process your original return and issue any refund that was claimed on that return. Only then should you file an amendment, paying back any excess refund that you received or claiming any additional refund due to you as a result of the amendment.

The IRS allows you to file an amended return only to correct your filing status, to cure any errors you make in claiming dependents, to increase or decrease the amount of income you originally reported (such as including an omitted Form W-2 or Form 1099), and to add or eliminate any deduction or credit.

Amended returns cannot be e-filed. Your must print, sign, and mail Form 1040X, along with a corrected copy of any affected form or schedule.

If the original return includes mathematical errors that affect your tax liability, you should provide the IRS with sufficient time from the original filing date to fix the error; generally, the IRS can detect and correct math errors on tax returns within a reasonable amount of time. The IRS will notify you of any change it makes to your tax return. If additional changes are still necessary after receiving notice, only then should you amend the tax return.


rthom99
New Member

I forgot to enter my s/Corp k1 form , on my tax these year !! And it’ll all done and sended with turbo tax!!!

Need to change a K1 amount for 2018. TurboTax does not seem to allow this within the edit options.

How do I change the amount?

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