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Level 1
posted Apr 15, 2023 4:27:12 PM

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

 

 

0 1 304
1 Best answer
Expert Alumni
Apr 16, 2023 6:03:58 AM

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.

1 Replies
Expert Alumni
Apr 16, 2023 6:03:58 AM

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.