K1 for shares held less than 1 day

[Gettingitdone]

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

[AmyC]

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.