Schedule K-1 Schedule K-3 and filing an extension

[Ciao4]

I have a Publicly Traded partnership with a Schedule K-1 (Form 1065), and box 16 is checked.

Schedule K-3 will not be available until June.

Should I file an extension using Form 7004?

Does TurboTax Support Form 7004?

How far do I have to complete the 1040 tax return? Will I enter the Schedule K-1 information?

Can anyone Help?

[Mike9241]

7004 is for businesses. For individual returns the form is the 4868 and Turbotax should have an easy extension link.

if you are correctly due a refund there is no penalty for not filing an extension and then filing late. However, it's safer to file it in any case. 

however, if you owe, you need to pay in full by 4/15. I would advise filing an extension. 

state laws are different 

[PatriciaV]

You can file your extension at our Easy Extension website.

No entries are necessary to file an extension other than your personal/business information, an estimate of your tax liability, and any estimated tax payments you made.

[Ciao4]

When I enter the K-1 into TurboTax do I check box 16 as it is on my K-1?

Will I get an error in TurboTax because I don't have the K-3 info (available in June) to prevent me from printing and mailing my return?

With the following notes do I file Form 4868?

I expect a big refund.

My K-1 is from a Publicly Traded Partnership in which I am a domestic partner.

Current Year net loss is is -$5

Distributions $18

Box 1 -$5 a loss

Ordinary Dividends $2

Qualified Dividends $2

Box 13 Code K is $2

Box 16 is checked

Box 17 Code A $-2 negative

Box 19Distributions Code A $2

Box 20 Code A $2, N $8, V $-5

Box 21 Foreign Tax paid is blank

With these numbers I doubt the K-3 will make a difference.

Can you explain exactly what everyone like me should be doing.