Delete K1

Forum|Forum|2 years ago
February 27, 2024
1 reply
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I have several K-1's from shopping centers I am no longer invested in and would like to know if it is okay if I delete the K-1's. Thanks for any help.

DaveF1006

No. You will need to report these if issued to you. If these are final k-1's, there should be a checkmark in the K-1 forms you receive indicating this is a final K-1 signaling that that the borrower no longer has an ownership interest in the business.

If there is no checkmark, you will need to contact the issuer to have them issue you a K-1 with the checkmark checked.

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