Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-28-2015, 07:25 PM
Junior Member
 
Join Date: Jan 2015
Posts: 10
Amended return?

Do I need to file an amended return if I showed a Non-passive K1 as a NOL. I just need to back out the loss. I owe zero taxes with and without this loss.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 02-28-2015, 07:48 PM
Moderator
 
Join Date: Oct 2010
Posts: 5,227
Quote:
Originally Posted by jahh View Post
Do I need to file an amended return if I showed a Non-passive K1 as a NOL. I just need to back out the loss. I owe zero taxes with and without this loss.
you may file amended Sch K-1. Start with the Sch K-1 form for the appropriate year and check the "Amended K-1" box at the top of the form. Each Sch K-1 has some variable information, including the codes used. Use the Sch K-1 instructions to locate the necessary codes for the completion of the amended Sch K-1. Attach all necessary amended Sch K-1 forms to the Form 1120S. you may send a copy of any amended Sch K-1 form to the shareholder as well as to the IRS.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Amended Return? snubbie99 Miscellaneous 5 10-16-2014 09:35 PM
How do I owe so much on my amended return?? gatorade81 For 2013 2 03-13-2014 07:02 AM
Amended Return Now or No? twopeaedpod For 2013 1 02-27-2014 01:56 PM
Amended return kheld3 Miscellaneous 0 03-12-2010 06:17 PM
Is it possible to e-File an Amended Tax Return? bookkeeping Miscellaneous 1 05-02-2008 11:12 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning