becky2836
New Member

Do I have to amend my 2015 partnership 1065 informational return if I left the capital account info blank?

Asking again in hopes someone will answer. I filed our partnership informational return for 2015 with the business turbotax. Somehow it let me skip the section regarding my capital account balance. So on my and my partner's K1s for 2015, the capital account sections were left completely blank. Do we need to file amended returns both for the business and personally? I guess I'm surprised Turbotax would allow me to move forward and file the return without completing that information if it was vital. I realized this mistake as I was beginning the 2016 partnership return and got to that section. It recommended referring to my 2015 K1 for each partner to enter the information.  That's when I realized I had not completed that section. Still navigating the learning curve!