Will TT let me file my return and will the government accept it without my Schedule K-3?

[JohnB5677]

Filing for an extension is the safest option.  However, there is an exception stating in 2022 regarding K-3's.

New exception to completing Schedule K-3.

“Under a new exception, in certain cases, partnerships with no or limited foreign activity are not required to furnish Schedule K-3 to you for tax years beginning in 2022. See Domestic Filing Exception in the Partnership Instructions for Schedules K-2 and K-3 (Form 1065)."  New exception to completing Schedule K-3

Also see:  Domestic filing exception (exception to filing Schedules K-2 and K-3)

If you choose to uncheck the K-3 box, I suggest filing a Form 8275.

Form 8275 is used by taxpayers and tax return preparers to disclose items or positions, except those taken contrary to a regulation, that are not otherwise adequately disclosed on a tax return to avoid certain penalties.

Form 8275 is not supported by TurboTax, and it cannot be Efiled.  However, you can mail your return and use the link below to prepare the 8275.
Please see About Form 8275, Disclosure Statement for instructions and the FORM.

I would make the disclosure because you may not have to file the K-3.

 Your Federal tax return goes to a different location depending on the state that you live in.  See this list to determine the location for you. Where to File Paper Tax Returns (irs.gov)

  If this does not completely answer your question, please contact us again and provide some additional details.

@MAW51 @alj 

[DocNyr]

Hi Robert 61:

How does one go about filling form 8082 to inform the IRS that I did not receive the K-3 from the partnership?

I only received the K-1 and the tax support office of the partnership said I would only get the K-3 in June!

Any help in filling Form 8082 would be appreciated. 

Thanks!

[Robert 61]

I got form 8082 from the IRS website to print out.

In Part 1, I checked box 1a (notice of inconsistent treatment) and followed the form instructions from that point on, part II, part III.....etc. The IRS also has complete instructions for filling out the form on the website.

[DocNyr]

Thank you for your response. I need some more help please...

(1)  On line 2, is a publicly traded MLP considered to be a S corporation, or a TEFRA partnership or a BBA Partnership? 

(2) On line 5, how do I find out the IRS service center where the MLP files its returns? 

Thanks for your assistance. 

[Robert 61]

For question 1, you would have to call your broker to clarify that information

Question 2....look  at your K-1 Part 1C for that information

[DocNyr]

Thanks Robert 61 for that info. 

I called up Fidelity (my brokerage) and they could not tell me anything. They referred me to Taxpackage.com but that site does not mention the organizational form with respect to IRS definitions. 

I guess I will have to call them up on Monday and speak to a "live" person who probably also is clueless about this.

[Robert 61]

Or if possible, try to call the fund directly. I called tax package support and they could not give me any info.

[RollieH]

I am amending my original return to add a K-1 and recently received K-3. 

Do I need to amend my state return if the amended return does not change my income and taxes?

Thanks for you help with this.