I haven't received any Schedule K1 forms from my partnership investments yet. Has something changed in the tax laws that makes this unnecessary now?

Forum|Forum|6 years ago
June 4, 2019
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TurboTax Deluxe Windows

Best answer by Rick19744

No change in the requirement that partners in a partnership must receive a K-1.

However, the due date for partnership returns is March 15th and may request an extension to file later. If an extension is filed, you will not receive your K-1 until a later date.

Take a look at your prior year K-1 package for a phone number and call them to ask about the timing of your K-1.

Rick19744Answer

Employee

No change in the requirement that partners in a partnership must receive a K-1.

However, the due date for partnership returns is March 15th and may request an extension to file later. If an extension is filed, you will not receive your K-1 until a later date.

Take a look at your prior year K-1 package for a phone number and call them to ask about the timing of your K-1.

*A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.

rgmiller7008Author

Thanks so much for your helpful answer.

AnnetteB6

The choice is yours to make.

If you can reasonably estimate the income that will be reported on the K-1 so that you have enough information to determine whether you need to pay any taxes with the extension, then the extension would probably be the better choice. That way you are only filing your return once and a second, amended return, will not be required.

Take a look at the following information regarding filing an extension with TurboTax:

How do I file an IRS tax extension?

@M2hindman

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