Question

Can I amend my accepted personal return accepted to include my 1120S/K1 from my LLC filing as a s-corp?I haven't filed the 1120S yet but have a copy from my accountant

Forum|Forum|4 years ago
March 3, 2022
1 reply
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I need to amend my personal tax return that has been accepted to include my 1120S from my LLC filing as a s-corp, my accountant has produced the 1120S but I have not mailed them in yet. What step should I take?

TurboTax Deluxe Online

M

Mike9241

why haven't you filed the S-Corp? if the IRS looks to match your k-1 reporting with what it has on file they will find nothing and reject your amended return.

P

pdm34Author

I just received my 1120S from the accountant this week and wanted to review. If I understand correctly, I will send in the business taxes signed and dated (couldn't efile). Then I will mail in my copy of the 1120S/K1 form from the accountant with my printed personal return to have amended since I can't do it online. Is that correct? Thanks for the help

PatriciaV

Employee

To avoid confusing the IRS, follow these steps:

File Form 1120S as soon as possible (the deadline is March 15).
Wait until you receive your refund (if any) or the IRS rejects your Form 1040 personal return (two months at least).
File an amended tax return to include the info from your 1120S Schedule K-1.

Note that the IRS is facing a tremendous backlog in processing flagged returns. If you weren't expecting a refund and don't hear from the IRS after two months, go ahead and file your amended personal return. You may not receive any IRS correspondence for several months.

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