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QBI for LLC Box 20 code Z K1

I forgot to put Code Z in box 20 on my 1065 K1s,     My LLC is just my wife and me    Turbo tax did do the calculation on form 8995 and deducted the QBI properly from our personal taxes.   My question is do I need to send amended K1s to federal and state government with the Z in Box 20 or are the K1s solely for information to the partners ?   Any advice appreciated. Thank You

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PatriciaV
Expert Alumni

QBI for LLC Box 20 code Z K1

Schedules K-1 are part of the business tax return. If you omitted information from the original filing that the partners will use on their personal tax returns, you will need to prepare and file an amended business return. The state return (if any) may need to be amended as well. The partners may use the revised K-1s as long as the business amended return has been e-filed or mailed.

 

 

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