You can file a Superseded return in TurboTax, but not electronically. Once you have made the corrections, you can reprint your K-1 and use on your personal return. If you have other shareholders, you have to amend their K-1s also.
You cannot efile an amended return either. You will have to mail it either way.
You would have to print and mail it in with the word "Superseded" across the top instead of putting an "X" in the amended bow.
You would do it the same way as an amended for below, but just write that on the top. Per the IRS: "You will not see a checkbox or selection entitled “Superseding Return” available on the paper forms."
Amending a Corporate or S Corporation Return
- To amend a tax return for a corporation, file form 1120x.
- To amend taxes for an S corporation, create a copy of the original return (on Form 1120S), and check Box H-4 (Amended Return) on the copy. Then use the copy to make the changes to the return, and re-file.
If the change results in a change to shareholder information, you must also file an amended Schedule K-1 and give a copy of the amended K-1 to the shareholder. Make a copy of the original K-1 and check the correct box to indicate that it is an amended K-1. Then make the necessary changes.
