K-1 forms will probably not receive in time to file on 10.16.23 what do I do?

[JaredS_CPA]

Hello bmariko,

Thank you for joining us in the Ask the Experts event. As to your question, the best thing to do in this situation is to file your return without the K-1 and then file an amendment after you receive the K-1.

If, however, you know you are going to be getting a refund then there should not be any penalty or interest (at least for federal, not sure about your state) for filing late because those are based on any tax due. That is a little risky, but another option to consider if you don't want to amend. Amending is free if you use TurboTax, so don't let cost be a factor.

I hope that helps.

[bmariko]

It looks like we won't be receiving the 2 K-1s until whatever time after 10.16.23. So it looks like I will file our taxes by 10.16.23 and file an amended return after I receive the 2 K-1s via turbotax software? Is that possible? Does turbotax have the amended return option to do that???

[Katherine S 63]

Yes, amending is easy.  You just go to tax home, scroll down to the 2022 taxes and click on Amend using Turbo Tax.  Connect with our live help if you need assistance!!

Katie S

[Katherine S 63]

And amending is FREE!!!