Late K

[RodG46]

It is May 3rd and I just received a late K-1 (Form 1065) from an LLC as a limited partner along with a distribution check that is dated 4/27/2022. The K-1 is for tax year 2021 but the distribution wasn't received until 2022.

I have already filed my 2021 taxes. Do I have to amend my return because the distribution is listed on the 2021 K-1  OR  do I claim the distribution in 2022 since that is when I received the money?

[Mike9241]

you should file an amended return once your original return is fully processed to report the k-1 income/loss. the distribution is tax-free unless it exceeds your tax basis 

[TomD8]

If you receive a K-1 dated 2021, the IRS computers will look for it on your 2021 tax return.