turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Final K1 Box 16 Checked but No K3 Included (Box 21 Blank) | USO

Hello,

 

I purchased USO options in 2022 and exercised/sold the same year for a small gain. I received my K1, which has box 16 checked but no K3 was in the tax package (Should be available in June). The K1 is all 0s and blanks besides the my info, the partner info, and the info below.  Since box 21 is blank, do I still need to file an extension and submit when the K3 arrives? I've quite read quite a bit of conflicting information. Thank you in advance for any/all help!

 

L

Beginning Capital Account: 0

Capital Contributed During The Year: 600

Net Income: 0

Other Increase: 0

Withdrawals/Distributions: 600

 

 

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
PatriciaV
Employee Tax Expert

Final K1 Box 16 Checked but No K3 Included (Box 21 Blank) | USO

If you wish to file now, simply uncheck box 16 and e-file. If your tax situation changes when you receive Schedule K-3 (which is unlikely), you can file an amended return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
PatriciaV
Employee Tax Expert

Final K1 Box 16 Checked but No K3 Included (Box 21 Blank) | USO

If you wish to file now, simply uncheck box 16 and e-file. If your tax situation changes when you receive Schedule K-3 (which is unlikely), you can file an amended return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies