Re: Question on Amended 1041 Filing Please

Forum|Forum|3 years ago
April 11, 2023
2 replies
0 views

I am in the same situation. I just got a corrected 1099 Div. On April 10th!! All day been trying to understand if I should or should not file amendment. When you found out that your tax did not change with the new corrected version, did you continue to file the amendment? Thanks

LindaS5247

Level 14

You do not need to amend if there is no change to your tax liability.

Click here for "Should I File an Amended Return? And click on Begin.

Click here for an article by TurboTax on "Do I need to Amend?"

Click here for detailed information on "How to File an Amended Return with the IRS."

Click here for a TurboTax video on "How to amend your tax return"

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14tax2_

Level 2

While it did not change the tax situation for the trust return, it did change the K-1. It was recommended not to amend the trust return (per an online search) until the original return has had time to be accepted by the IRS. Since the K-1 will change the numbers on my 1040, I am trying to determine whether it will require I amend that return. I haven’t yet looked into the impact the altered K-1 will have on my personal return. I have an appointment with my financial planner coming up, who also prepares returns. I will verify with her whether an amended 1041 or 1040 will be necessary. From what I am seeing, you have 3 years to file an amended return. Sorry I couldn’t provide more direction in this area.