MonikaK1
Expert Alumni

After you file

If you received a Schedule K-1 after filing your return, you should amend your return and enter the information from Schedule K-1 in the appropriate section of TurboTax. See this TurboTax tips article for more information on Schedule K-1, and this one for help with entering the K-1 in TurboTax. 

 

Before you can file an amended return for 2022, the original return will need to have been processed by the IRS (refund issued / payment processed).

 

See this article for more information on filing an amended return.

 

The regular due date for issuance of Schedule K-1 is March 15th. In order to file an accurate return, it's generally best to wait until you have the K-1 before finishing and filing your return.

 

See this article from Yahoo! finance regarding ETFs and Schedule K-1, including a list of those who issue Schedule K-1s because they are structured as partnerships. 

 

There are different types of ETFs. Depending on how the fund is structured, the tax treatment and tax forms may be different. Certain investment products, including Commodity ETFs, are structured to operate as partnerships. They issue a Schedule K-1 to each partner (i.e., investor) to report their share of income, gains, losses, deductions, or of any other taxable event.

 

See this TurboTax article for more information on reporting forms for investment income.

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