Form 1065 - Does a partnership have to file an entire amended return to only change 4 K-1s? Thanks!

Forum|Forum|6 years ago
December 7, 2019
2 replies
25 views

The partnership (27 partners) was only informed last month of the death of one partner back in 2013. No mail was ever returned over the years, so there was no reason for the partnership to believe anything had changed.

There are 3 heirs who now need K-1s for 2013-2017. I understand that the 2013 return needs to be amended to show this transfer of ownership, but are we required to file a complete amended return for each of the subsequent years, with all 27 (now 29) K-1s included, if the only change is on these few K-1s? Is there a more efficient way to do this?

Also, is it appropriate for the partnership to recoup the expense of this extra work out of future distributions to these "new" partners?

ProSeries Professional

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Best answer by sjrcpa

Filing an entire amended return with all K-1s is the way to do this. Howvere, none of the other K-1s will have changed so those partners will not need to get "amended" K-1s.

sjrcpaAnswer

Level 15

Filing an entire amended return with all K-1s is the way to do this. Howvere, none of the other K-1s will have changed so those partners will not need to get "amended" K-1s.

The more I know the more I don’t know.

PhoebeRoberts

Intuit Community Champion

I'm going to be a contrarian. The estate of the decedent may well have been the partner until the partnership admitted the heirs. The heirs need to file 1041s and get their K-1s that way.

I'd certainly be comfortable taking the position that unless the heirs pay for a legal opinion that the K-1s should be amended, those years stand as filed.

sjrcpa

Level 15

That's a much better answer than mine. Less work, too.

The more I know the more I don’t know.

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