I just recieved a schedule k1 form 1065 do i need to amend my return

alexander1 · ‎June 4, 2019

i just recieved a schedule k1 form 1065 do i need to amend my return

PaulaM · ‎June 4, 2019

Yes, you will need to amend to include the form K-1. It has been furnished to the IRS as well.

But wait until the original return is fully processed. If you had a refund/tax payment due, wait until you get receive it or the payment is processed.

https://ttlc.intuit.com/questions/1894381-how-to-amend-change-or-correct-a-return-you-already-filed

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jrosdahl · ‎June 4, 2019

If the K-1 does not change your tax due (passive loss that is disallowed), do you still need to file the 1040X?

PaulaM · ‎June 4, 2019

Yes, because the form is furnished to the IRS as well.

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jrosdahl · ‎June 4, 2019

The instructions state "Be sure to attach all forms or schedules that changed to your amended return."
so I send the 1040X, a copy of the Schedule E that lists the new K-1, and the worksheet that shows the loss is disallowed -- nothing else (all the other pages that Turbo Tax included in the output file -- correct?

PaulaM · ‎June 4, 2019

Correct.

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jrosdahl · ‎June 4, 2019

THANK YOU VERY MUCH!

PaulaM · ‎June 4, 2019

You are welcome! 🙂

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I just recieved a schedule k1 form 1065 do i need to amend my return

Business & farm

Business & farm

Business & farm

Business & farm

Business & farm

Business & farm

Business & farm