File now and amend? Or file an extension and let the IRS keep the $$ through October?

[SJW1974]

I overpaid my taxes this year and expect to have a large sum (for me) refunded to me. I have two K-1's that I do not expect to receive until September. (Those K-1's will most likely signify a loss, though one did give a cash dispersement, so they are largely irrelevant to my taxable income to the year, and will not increase it.)

I would like to have access to the refund now, instead of waiting until I get the K-1's in September/October and filing then.

Can I, legally and legitimately, file my taxes now, knowing that I have two K-1's coming and will have to amend later? Or, must I file an extension and wait until I have all my forms?

If I can do the federal, what about the state of Virginia?

And, if it is legal to do, am I opening myself up to any audit risk by doing this?

Thank you.

[taxlady28]

You can file now for state and federal, then amend anytime within next three years after April 18.

[Cynthiad66 · Accepted solution]

It is perfectly legal to file now and amend if necessary.  After all, you do not have the information available.  Also, since you know that the K-1s will, most likely, not affect your taxes, I suggest that you go ahead and file.

This, most likely, will not open you up for audits because, you said the K-1s are de minimus.  

You can file both the state and the federal and if necessary TurboTax allows you to amend for Free.

@SJW1974