If your K-3, Box 16 is checked but hasn't been issued yet, here’s how you can proceed:
- Best Option — File an Extension: You can request an extension to file your tax return. This gives you additional time to receive the K-3 and ensures you have all the necessary information to complete your return accurately.
- You have until October to complete and file your return.
- Note that your best estimate of taxes due on your return must be paid by the original filing deadline (April 15, 2025 for tax year 2024)
- Next Option — File Now and Amend Later: If you prefer to file your return now, you can do so and then file an amended return once you receive the K-3. To file now, uncheck Box 16 and e-file.
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