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Can I file on time with a K-1 received from an S-Corp that filed an extension?
I received a 2023 K-1 from an S-Corp in time to file my personal taxes, but the S-Corp is extending their return in hopes that possible future legislation may result in tax credits. My interest in the S-Corp is minimal. Should I wait to file my personal return since the S-Corp won't be filing until the fall of 2024, or is it ok to file with the K-1 I received? If the future legislation happens, it would likely result in reduced tax liability.
Thank you!
March 23, 2024
12:17 PM