I filed a final 2020 1065 recently that has 149 members. Now one of the members wants the K-1's for two of its accounts changed to reflect a merger of the two accounts. There would be no changes to the company's numbers or other information, and none of the other 147 members would have any changes to their K-1's. If I amend the return, I know all K-1's will be marked as "Amended K-1" if printed. My question to the community is this: If I chose to amend the 1065, do I need to distribute the new amended K-1's to ALL members or just the two affected? As an alternative, could I simply change the numbers for the two K-1's affected without formally amending the return?
Thank you!
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Thank you!
Can you even amend it? Is it a BBA partnership requiring an Administrative Adjustment instead?
If it's a 2020 calendar year return you can do a superseding return.
I would just send out the changed K-1s. CAGMC.
I do not see a way to mark a 1065 return as superseding in ProSeries. How do you do that?
Print it and use a pen.
It needs to be paper filed.
Thank you!
You're welcome.
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