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Amend K-1's only


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#1 sshams95

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Posted 04 April 2009 - 02:19 PM

Have a LLC Form 1065 client. Provided prior CPA with incorrect SSN's for K-1's. Need to amend prior year K-1's with correct SSN's.



Do I just file the amended K-1s only? Or do I need to file Form 1065, mark it amended return, and include the amended K-1's?



Thanks.

#2 schirallicpa

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Posted 04 April 2009 - 04:45 PM

If the individual partners reported on their returns properly, regardless of incorrect SS#, then do amendments need to be filed? Perhaps they corrected the SS# themselves on the copy they attached to their return.

#3 sshams95

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Posted 04 April 2009 - 06:59 PM

If the individual partners reported on their returns properly, regardless of incorrect SS#, then do amendments need to be filed? Perhaps they corrected the SS# themselves on the copy they attached to their return.



Client has an IRA investment in LLC. LLC used the client's social sec #, not the IRA TIN#....so IRS says client owes taxes based on K-1 they received.

I need to amend the K-1 to show the correct IRA Tin#, as income from this LLC is going to an IRA.




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