topic Tax Year Prior to 2020: I was supposed to receive a K-1 form with additional numbers for some gas royalties that I received. Can I file my taxes without it or do I need to wait and how long? in Investors & landlords

Tax Year Prior to 2020: I was supposed to receive a K-1 form with additional numbers for some gas royalties that I received. Can I file my taxes without it or do I need to wait and how long?

violaruth2005 — Thu, 04 May 2023 22:14:22 GMT

Your best option is to file an extension, if you don't th...

KarenL2 — Sat, 01 Jun 2019 00:31:18 GMT

Your best option is to file an extension, if you don't think you will have the K-1 prior to April 18th this year. If you file without it, you will have to amend your tax return later when you receive your K-1 Form. The extension allows you an additional 6 months to file your tax return. You will likely receive your K-1 before then.

How do I file an extension (Form 4868) in TurboTax online?

https://ttlc.intuit.com/replies/3301811

Remember that an extension is simply an extension of time to file your return. It is not an extension of time to pay your tax due. If you will owe this year you should make a payment with your extension to avoid penalties and interest.

Re: I was supposed to receive a K-1 form with additional numbers for some gas royalties that I received. Can I file my taxes without it or do I need to wait and how long?

Carl — Sun, 16 Jun 2019 13:54:18 GMT

A K-1 for royalties? Are you absolutely sure on that? Generally, royalty income will be reported to you on a 1099-MISC with the income reported in box 2 of that form. Why are you expecting this to be on a K-1? It also matters what kind of K-1. 1065 K-1? 1120-S K-1? 1120 K-1? 1041 K-1?