Tax

Have a Tax Question? Ask a Tax Expert

Ask an Expert,
Get an Answer ASAP!

Tax

I already filed my tax return and then received a schedule

Customer Question
K-1 from my father's estate...
I already filed my tax return and then received a schedule K-1 from my father's estate. How do I amend my return with this document?
Submitted: 1 year ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 3 minutes by:
4/6/2016
Tax Professional: Robin D., Senior Tax Advisor 4 replied 1 year ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,888
Experience: 15years with H & R Block. Divisional leader, Instructor
Verified
HelloYou will need to file a form 1040X for federal. The items on the K1 will be included based on the type of income or loss you were designated.The 1040x shows original amounts than the corrected amounts.Where you list depends on the line on the K1 that shows income.It will have to be mailed as the amended return is not allowed for e-file.You are required to click a positive rating if I am to be credited with the response.You have to actively click on a rating and click submit. Smiley Faces or Stars.
Ask Your Own Tax Question
Tax Professional: Robin D., Senior Tax Advisor 4 replied 1 year ago
If you tell be what lines on the K1 have an entry I can tell you where it is reported.
Ask Your Own Tax Question
Tax Professional: Robin D., Senior Tax Advisor 4 replied 1 year ago
Checking to see if you responded
Ask Your Own Tax Question
Ask Robin D. Your Own Question
Robin D.
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,888
15,888 Satisfied Customers
Experience: 15years with H & R Block. Divisional leader, Instructor

Robin D. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,300 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,310 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

Robin D.

Robin D.

Senior Tax Advisor 4

15,888 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,651 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

R. Klein, EA

R. Klein, EA

Enrolled Agent

1,839 satisfied customers

Over 20 Years experience

< Previous | Next >

Related Tax Questions
Impact of tax changes on filing amended returns... Client
Impact of tax changes on filing amended returns... Client filed a 2016 tax return on time in 2017. If the tax laws change significantly, which laws apply when amended returns are filed... the tax laws… read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,490 satisfied customers
Filed W1040 for self-employment. Should I file amended return for HSH?
I was self-employed last year and I filed a W1040 tax form. Everything went through well. I did it through an H&R computer program. Currently I am in need of financial aid as I am going to college. I … read more
Robin D.
Robin D.
Senior Tax Advisor 4
15,888 satisfied customers
I recently filed amended federal tax returns (1040x) for
I recently filed amended federal tax returns (1040x) for 2013 and 2014. I have received a refund for 2014 and am answering some additional questions for 2013. Do I need to file amended tax returns for… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Can a taxpayer file an amended return to elect into the
Can a taxpayer file an amended return to elect into the installment method if the original return was filed error without the installment method.… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
I received a Schedule K-1 (Form 1041) from my aunt's estate
I received a Schedule K-1 (Form 1041) from my aunt's estate from which I received a distribution. In Part 3, Beneficiary's Share of Current Year Income, Deductions, Credits, and Other Items, there is … read more
Chad CFP ®
Chad CFP ®
Certified Financial Planner(R), Pro
Master\u0027s Degree
736 satisfied customers
I have a client that receives 2 x Schedule K-1's (Form
I have a client that receives 2 x Schedule K-1's (Form 1120S) – one is a manufacturing company that can claim the Domestic Production Activities Deduction (DPAD) and one is for a business rental prope… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Income from federal return incorrectly transferred to state
income from federal return incorrectly transferred to state return … read more
Barbara
Barbara
Enrolled Agent, Paralegal
3,490 satisfied customers
When will 2015 amended returns be processed, I filed an
I filed an amended return 1 year ago. IRS has not yet begun processing. How long does it take? … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,230 satisfied customers
I am filing an amended return that pertains to some patent
I am filing an amended return that pertains to some patent expenses (on schedule C) I did not expense on the original 1040 and 540 (they remained on the balance sheet). I have now expensed them and ha… read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
On a Schedule K-1 (Form 1065), under item H there is box for
On a Schedule K-1 (Form 1065), under item H there is box for "Domestic Partner." I just want to confirm the definition of "Domestic Partner" in the context of this form and on what occasion that box w… read more
Robin D.
Robin D.
Senior Tax Advisor 4
15,888 satisfied customers
Questions 1 and 2: 1. The amount shown on Schedule K-1 Line
Questions 1 and 2: 1. The amount shown on Schedule K-1 Line 13 Code W Other Deductions represents debt-financed distributions; Section 743 (B). ----> Does this get reported? There is no Code W in t… read more
Matthew Breecher
Matthew Breecher
President
MBA (Graduate Legal Studies)
285 satisfied customers
I want to amend returns for 2013, 2014 and 2015. There was
I want to amend returns for 2013, 2014 and 2015. There was at one time a way to look at previous returns. The process now seems to be more difficult. … read more
Brian Michels
Brian Michels
Partner, CPA
Bachelors of Business Administration
154 satisfied customers
Schedule K-1 Form 1041: Irrevocal Life Insurance Trust: Tax
Schedule K-1 Form 1041: Irrevocal Life Insurance Trust: Tax asking if I disposed of my entire interest? … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
On schedule K-1 box 14 Code I, it refers to a STMT which
On schedule K-1 box 14 Code I, it refers to a STMT which lists Foreign Receipts and Expenses. Where do I report this? … read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
If an estate received a Schedule K-1 in 2016 but no income
If an estate received a Schedule K-1 in 2016 but no income until 2017, do I file a estate tax return (Form 1041) for 2016 as the personal representative / administrator of the estate?… read more
keeperumiami
keeperumiami
Sr Financial & Tax Consultant
Bachelor\u0027s Degree
1 satisfied customers
I have a schedule K-1 Beneficiary's share of income,
I have a schedule K-1 Beneficiary's share of income, Deductions, Credits, etc. Line 5 shows 31,171, line 14 code E shows 1092, line 14H shows -30186. Do I owe tax on 31171 or just 1092. … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I have Schedule K-1 Ordinary business income. and K-1
I have Schedule K-1 Ordinary business income. and K-1 Nondeductible expenses Where do I deduct Nondeductible expenses on Schedule E Part II… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,230 satisfied customers
When filling out a Federal Schedule K-1 it ask for
When filling out a Federal Schedule K-1 it ask for “Shareholder's percentage of stock ownership for tax year (in decimal format), if the shareholder holds 100%, should it be entered as 1.000000?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
15,888 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x