topic Received a late Schedule K-1 after filng my FY2019 return for transacting few ETF shares. Should I amend my FY2019 tax return? in After you file

Received a late Schedule K-1 after filng my FY2019 return for transacting few ETF shares. Should I amend my FY2019 tax return?

smartfly1 — Thu, 26 Mar 2020 02:16:57 GMT

Received Schedule K-1 (Form 1065) in March 2020 after filing my return in Feb 2020 for transacting few UVXY VIX ETF shares in FY 2019 for small amount $-23 (loss) reported in Box-11C of K-1.

The actual capital gains etc.. for those UVXY buy&sell were already reported in the FY2019 tax return correctly as per brokerage tax statement 1099-B issued to me. This K-1 I got in mail yesterday took me by surprise as I thought everything related to buy&sell UVXY shares was covered in the Brokerage 1099-B statement.

Should I amend my FY2019 return? Next steps?

I filed my return online using TurboTax Premier if this info helps.

Any help & guidance on this one is highly appreciated. Thanks a lot.

Re: Received a late Schedule K-1 after filng my FY2019 return for transacting few ETF shares. Sho...

DavidD66 — Thu, 26 Mar 2020 02:36:27 GMT

Given the small amount, I would not file an amended return. That said, not reporting it could result in a letter from the IRS, but I doubt it. If you want to file an amended return, see the following:

How to amend (change or correct) a return you already filed

Re: Received a late Schedule K-1 after filng my FY2019 return for transacting few ETF shares. Sho...

smartfly1 — Thu, 26 Mar 2020 04:36:22 GMT

Thank you for answering!