LLC-Correcting What is the easiest way to correct our personal 2012 LLC K1 status? The CPA we used put us as active when we should have been passive.The CPA has passed away so can't ask her to change it.
Can I request from the IRS a change in our entity status-Part II, line 11 on K-1. Nothing else will change on our or our partners K1's.If so, I assume I will
need to create a 1040X as the active loss when I reported it on our 1040 created a NOL that I did not need.We had zero tax liability from 2010-2013 without this loss.
Would I do a 1040X and attach a corrected Schedule E and a form 8582 (can't use the loss yet.) Would I also send the original K1?
Thank you. |