Yes, you need to amend your 2018 return to include the information from the K-1 you received.
If you have basis in the business, you can take the loss currently and receive a refund. If you do not have enough basis to take the loss, then the information is recorded as part of your take return to take the loss later.
How to amend your prior tax return using TurboTax
Once you have put the information in, you will need to print, sign, date and mail your amended return according to the instructions that print out with the return.
Amended returns cannot be efiled.
@RedBrick
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