I haven't received any Schedule K1 forms from my partnership investments yet. Has something changed in the tax laws that makes this unnecessary now?

[Rick19744 · Accepted solution]

No change in the requirement that partners in a partnership must receive a K-1.

However, the due date for partnership returns is March 15th and may request an extension to file later.  If an extension is filed, you will not receive your K-1 until a later date.

Take a look at your prior year K-1 package for a phone number and call them to ask about the timing of your K-1.

[rgmiller7008]

Thanks so much for your helpful answer.

[Rick19744]

You are welcome.

[M2hindman]

If we will not receive the Schedule K from a partnership before tax day, do we have to file an extension or do we just file then amend?

[AnnetteB6]

The choice is yours to make.  

If you can reasonably estimate the income that will be reported on the K-1 so that you have enough information to determine whether you need to pay any taxes with the extension, then the extension would probably be the better choice.  That way you are only filing your return once and a second, amended return, will not be required.

Take a look at the following information regarding filing an extension with TurboTax:

How do I file an IRS tax extension?

@M2hindman