Partnership Return Form 1065

[AlPesach]

I am using Turbotax Business ( Partnerships, Corporations, LLCs, Trusts & Estates) and working on completing Form 1065 ( U.S. Return of Partnership Income) which has 5 partners and filing the return for the year ending 12/31/2024.  In 2024 two of the five partners had short years and final tax returns were filed and Schedule K-1  (Form 1065) were filed for the partners during 2024.  Since I need to file Form 1065 for the 12 months ending 12/31/2024 and the remaining three tax returns and three Schedule K-1 (Form 1065) will this cause problems?  I am concerned to submit again the two K-1(Form 1065) that were already submitted to the IRS since I do not want to duplicate the income on the two Schedule K-1 (Form 1065) previously reported to the IRS.  Since I undertand that the the Form 1065 must be filed electronically, is there any way in the electronic filing I could explain to the IRS that I already submiitted two K-1(Form 1065) during 2024.  If I only submit 3 of the Schedule K-1 ( Form 1065) they will not equal the the total of the incomes reported on Schedule K of Form 1065.  What is the best way to handle this?  

[PatriciaV]

Your only option is to file an amended return for 2024. You cannot file a second return for the same company. An amended return replaces the one you filed in error with only two K-1s and tells the IRS you are correcting the first return.

You will report income and expenses for the entire year. You may need to do special allocations to accurately reflect the income reported for the partners who left. You can read more about this under Business Info >> About Your Business >> Makes special allocations >> Edit >> "Explain This" hyperlink.

Be sure to include revised Schedules K-1 for ALL partners, those that left and those that remain, with the amended return.