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Level 2
March 6, 2024
Question

k-1

  • March 6, 2024
  • 1 reply
  • 3 views

I need a k-1 from a company I no longer work for, but only own a small percentage. They don't give me the k-1s until summer, so I have to file for an extension. I do not have access to company records, so I have no idea how much tax to pay by April 15. They won't answer when I ask what a ballpark figure of profits are. What should I do? 

1 reply

Level 15
March 6, 2024

In order to file an extension you should use the figures from the prior year.  That gets you the best ballpark estimate that you are capable of if they are uncommunicative.

 

@ndd 

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