topic How to handle revised K1 from 2022 return in Business & farm

How to handle revised K1 from 2022 return

Xian2 — Tue, 24 Feb 2026 07:40:20 GMT

my 2022 return included a K1, I now received a revision as the stated income on the original K1 was too high,

My income should have been 2500$ lower. Based on my marginal tax rate, there would be a tax relief of a few 100 dollars. How do I best handle it. Can I wait until 2023 taxes, when I get again a K1 from the company and somehow include the 2022 revision? or do I file a amended tax return now for 2022?

thanks

Re: How to handle revised K1 from 2022 return

Rick19744 — Thu, 19 Oct 2023 21:52:02 GMT

If you received an amended K-1, the post is not clear, then you need to amend the 2022 tax return to claim any potential refund.

Re: How to handle revised K1 from 2022 return

Xian2 — Thu, 19 Oct 2023 23:10:42 GMT

thanks Rick

yes I got another K1 for 2022, so will amend my taxreturn, I assume there is no issue doing it that late in the year..

Re: How to handle revised K1 from 2022 return

Rick19744 — Fri, 20 Oct 2023 18:01:33 GMT

No there is not.

Welcome.