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One my K-1 package is available only in June 2018. What is better for me: file every thing without this K-1 now + add it later or file extension now + complete in June?

Forum|Forum|7 years ago
June 1, 2019
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Best answer by DianeW777

You should file an extension if your K1 is coming after April 15th, then file the complete return once instead of amending the return later. You can pay any balance due, if applicable, when you file the extension so that you reduce any interest for late payment and with your return make the final payment. If you expect a refund you don't have to pay anything with the extension.

This eliminates any late filing fee and allows you to complete your tax return once. TurboTax will have extensions ready soon, keep checking back.

D

DianeW777Answer

You should file an extension if your K1 is coming after April 15th, then file the complete return once instead of amending the return later. You can pay any balance due, if applicable, when you file the extension so that you reduce any interest for late payment and with your return make the final payment. If you expect a refund you don't have to pay anything with the extension.

This eliminates any late filing fee and allows you to complete your tax return once. TurboTax will have extensions ready soon, keep checking back.

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