Irene2805
Expert Alumni

After you file

Yes and No.

 

Yes - Compare the K-1s you received with the 1099B you entered to see if there is additional information on the K-1 that will make a difference on your tax return.  Examples include foreign taxes paid and qualified business income (QBI) information.  If there is, you may wish to amend your return.

 

No - If there is no additional information on the K-1, then there is no need to amend your return.

 

In general, it is better to enter the K-1s on the return instead of the 1099-B since the K-1s usually contain more detail.  [Don't enter both because you may duplicate information.]