Amending

[Shamari]

Should I amend my return because of a Schedule K-1 form? Because I already filed the return before receiving the Schedule K-1. Also what's the penalty for not amending a tax return because of the Schedule K-1 because the amount is so little?

[CatinaT1]

It depends. If you have additional tax due, you will have interest on the additional amount due. You could also be due an additional refund. I would do the amendment to see what changes it makes.

If you want to make changes or add a document to a tax return that has already been submitted, you should follow these guidelines. 

• You must first wait until the initial return is completely processed. 
• You will have to use the same TurboTax account that you used for the original tax return. 
• Once you begin your amendment, you'll see your original return.  
• The refund calculator will start new at $0 and only reflect the changes in the refund or tax due 
• Only make changes to the areas of your return that need amending. 
• You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment 

Select your product below and follow the instructions. 

Amend TurboTax Online 

Amend TurboTax CD/Download