K1 for shares held less than 1 day

I bought shares of a stock in 2024 and sold them at a loss a few hours later when I learned they issue a K1. They ask for an extension and dont issue the K1 until after June 15. Since I held it for less than a day, do I still need to wait for the K1 or can I just report the loss on schedule D?l

1793

Expert Alumni

Mar 20, 2025 2:58:12 PM

The IRs wants you to file a correct return. You have two paths:

File an extension, file a correct return.
If you know beyond doubt that the k-1 issued will change your tax liability by less than $25, go ahead and file your return. You don't need to do an amended if the tax liability is $25 or less. If you think you know the numbers and can get it close, go for it.

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K1 for shares held less than 1 day