My 2024 K-1 from Cedar Fair has box 16 checked indicating that I need a K-3 from them. However, the K-3 wont be available until June. Do I need to file an extension?

Forum|Forum|1 year ago
March 16, 2025
1 reply
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TurboTax Online

RobertB4444

Level 15

You should be able to get information from them on whether the K3 will represent significant income that could represent a change to your return. If you can't get this information then you have two options - you can file the return and maybe have to amend it later after you receive the K3. Or you can file an extension.

If your investment is significant then an amendment is a good idea. If your investment is minimal then I would file the return and see what happens when you get the K3. It may have no effect.

@rbmiller88

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rbmiller88Author

Level 2

Sounds like a good approach. Will reach out to Cedar Fair today to determine the amounts of income involved. Will follow up with anything interesting I learn. Thanks for the follow up.

rbmiller88Author

Level 2

I heard back from Cedar fair and they told me that the checking of box 16 really didnt apply to most people, and that they basically suggested unchecking the box when filing. They said it really only applied if you had foreign tax situations. It turns out I had other issues due to a faulty import of the cedar fair tax file. I had to re-enter manually, and that seemed to resolve most of the issues. Thanks again for the suggestion.