K-1 (Form 1065) showed up after I filed taxes. It shows a loss.

[TakenTax]

I don't think I reported the buy because I didn't have any form at the time  I purchased (it is a new company). I received this K-1 and it shows a $900 loss. Do I have to amend or is it something I can post in my next tax return since its near the end of the year anyway? 

Also, how late can i wait to file taxes if this K-1 form shows up really late in the year? It would suck to have to do a amendment every year for this. However I do think it'll be more timely the next time around as they were just getting everything in order this past year.

[Anonymous_]

Is this a passive investment in an LLC or a partnership?

If you have to include the information from a K-1 in your individual income tax return, you need to do so based upon the year ending on the K-1.

I'll page @Rick19744 for more input re your passive loss scenario.

[TakenTax]

It's a limited partnership, as in i am a limited partner.  The K-1 says 2022

[Anonymous_]

In that case, you would include the K-1 with your 2022 individual income tax return.

Since you are a limited partner and there is a loss, it is a passive loss and passive losses can only be used to offset passive income (i.e., it generally does not do you much good until you have passive income from the investment or dispose of your interest).

I'll wait for @Rick19744 for input.

[Rick19744]

I agree with @Anonymous_ in that since the K-1 indicates 2022, you should amend your 2022 tax return.

As we don't have many details on your particular situation, we can't tell you the impact on your 2023 tax return.

Just out of curiosity, is the partnership a calendar or fiscal year?

Are there any dates at the top of your K-1 under the 2022 banner of the K-1?