topic Schedule K-1 Form 2041 in Get your taxes done using TurboTax

Schedule K-1 Form 2041

debbyaegerter — Fri, 28 Feb 2020 00:53:27 GMT

Today I received a Schedule K-1 for a Final 1041 for an estate. I have already filed my taxes and have received a refund. What do I do?

Re: Schedule K-1 Form 2041

Anonymous_ — Fri, 28 Feb 2020 15:33:34 GMT

You can provide more details on exactly what is included on the K-1 you received.

If entry of the K-1 increases your federal or state tax liability, you will need to amend your return.

Re: Schedule K-1 Form 2041

debbyaegerter — Fri, 28 Feb 2020 19:27:50 GMT

The K-1 is Beneficiary's Share on Income, Deductions, Credits

The following is included

on my K-1 in Box 11 there is: Final year deductions

11. A* 681

C 12

D 1,774

E 1,774

Other information

in Box 14: 14. B* 1

The box is checked for the final 1041 for the estate or trust

Nothing in any other of the boxes.

Re: Schedule K-1 Form 2041

sweattb — Fri, 27 Mar 2020 18:28:12 GMT

I am waiting for a K-1 (which is a worthless investment) and I want to file because of the Coronavirus checks. I know there will be no income, maybe a loss. Is it necessary to file an amended return.

Re: Schedule K-1 Form 2041

CatinaT1 — Sun, 29 Mar 2020 17:12:10 GMT

If adding the K-1 makes no change to your balance due or refund, there is no need to amend.