Great, I'm real close to fully understanding this, thanks to everyone for the help!
You say, "The amended tax return would tell you whether there is additional information to file with the IRS."
Does that mean that if I get a K-3 in August that I would log back into TurboTax and click on something to amend my return. At that point I would indicate that box 16 is checked and be prompted to enter information from the K-1. Would TurboTax then use that information I entered to determine whether or not I need to submit the amended return?
Is that process correct or did I miss something?
Thanks a ton!
-Brent
