@jlondon11 wrote:
Thank you. If amendment is not filed, should correction be made on personal return to reflect corrected K-1? It does not affect tax obligation.
There is no corrected k-1 if you don't file an amended 1120S.
If there is no change in tax due and you don't amend the 1120S, on the personal 1040 I would use the k-1 as filed with the 1120S an not the "correct" unfiled k-1. If you use the "correct" #'s the IRS matching program might flag the discrepancy.
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