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Business & farm
Ok ... so you issued a K-1 on a unfinished incomplete 1065k ... bad move if more corrections to the K-1 may need to be made. Instead of issuing the K-1 early all the partners should have gone on extension like the partnership did and waited for the real K-1 form. Now all the partners really should wait for the correct K-1 to be issued as the one that was sent out prematurely is not correct. If they already filed they should wait for the final K-1 form to amend their returns if needed.
May 20, 2022
6:31 AM