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Level 2
posted Feb 27, 2024 10:53:34 AM

Delete K1

I have several K-1's from shopping centers I am no longer invested in and would like to know if it is okay if I delete the K-1's. Thanks for any help.

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1 Replies
Employee Tax Expert
Feb 27, 2024 11:00:45 AM

No.  You will need to report these if issued to you.  If these are final k-1's,  there should be a checkmark in the K-1 forms you receive indicating this is a final K-1 signaling that  that the borrower no longer has an ownership interest in the business

 

If there is no checkmark, you will need to contact the issuer to have them issue you a K-1 with the checkmark checked.