Tax Year Prior to 2020: Where do I enter K-1 Form 1065 information on an amended return.

[MayaD]

Follow the steps below to enter the K1 on an amended return:

1. Go to Federal Taxes.
2. Go to Wages and Income.
3. Scroll down to S-corps, Partnerships, and Trusts and select show more.
4. Select Schedule K-1 and click Start.

[paratd18]

 I have finished and printed my amended return but not yet mailed it in. Today I receive a K-1 form 1065. Can I enter the information at this point to update it ? Or must I mail this amended return in, wait for it to be accepted and then amend again??

Thank you for any information

[DavidD66]

You do have to file your current amended return and then amend again.  You can go back into your return, enter your K-1, and then re-print the amended return and mail.  To enter the K-1, once back in your return, click on Search, type in K-1, and click on "Jump to k1".  Answer Yes to "Did you receive any Schedule K-1 or Q?  Continue with the interview and enter your Form k-1.

[paratd18]

I can mail both amended returns in together or is it best to mail them separately? 

[VictorW9]

Check the link below on how you enter a K-1 in TurboTax:

How Do You Enter a K-1 in TurboTax:

[paratd18]

Thank you for your reply.

I can mail both amended returns in together or is it best to mail them separately? 

[#7]

Thank you for your reply.

I can mail both amended returns in together or is it best to mail them separately? 

[VictorW9]

If you prepared the K-1 for a partnership or any other pass-through entity and you want to amend the return issuing the K-1, then of course you should amend the return and mail separately.

If you omitted the K-1 and you are now amending the return to add the K-1, then you can include the copy of the K-1 along with the explanation of why you are amending your return. Then mail your amended return.