topic Schedule K1 (1041) dated for different year than distribution in Get your taxes done using TurboTax

Schedule K1 (1041) dated for different year than distribution

Filosifi — Mon, 23 Feb 2026 14:31:46 GMT

I received money as a one-time beneficiary of an estate in January of 2023. The K1 form I was given by the estate's tax preparer is dated for 2021 however. They're telling me I need to amend my tax return for 2021, but if I do so I'm going to be assessed penalties and fees for amending it. Is this correct?

Re: Schedule K1 (1041) dated for different year than distribution

M-MTax — Sun, 19 Mar 2023 22:26:31 GMT

It's correct that you have to amend your 2021 return and include the K1.....you may have to pay interest if you owe more.

Re: Schedule K1 (1041) dated for different year than distribution

MarilynG1 — Sun, 19 Mar 2023 22:42:26 GMT

You are not assessed penalties and fees for filing an Amended return, although you may owe tax (and interest) on the additional income.

Here's more info on How to Amend a Prior Year Return.

Your Reason for Amending is 'tax form received after tax filing deadline'.

@Filosifi