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I want to amend taxes to include k-1’s not previously

I want to amend...

I want to amend taxes to include k-1’s not previously included. I understand I can amend taxes back three years from filing and two years from payment. I filed 2013 taxes in 2015 and I am a mending those taxes and other years. The k-1’s show a $30k loss for 2013. I further understand there wil not be self employment tax due because of the loss. Am I right or am I missing the mark? Thanks!

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Answered in 26 minutes by:
3/20/2018
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,032
Experience: Adjunct Professor
Verified
Hey! I'm Carter, I'm a CPA.
You're right on the time to file the amended return. You filed in 2015 so you have until 2018 to amend.
Yes, there will be no self-employment tax since you have a loss.
Let me know if you need anything else. If not please leave a rating. Thanks!
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Customer reply replied 1 month ago
Thanks Carter. I feel a little more confident now. I’m in the process of amending 2013 1040’s thru last yr’s1040’s. As I’m making adjustments to the 1040 & Schedule E, I’m also amending form 8582. Do you see any issue with the fact that I will show losses on Sked E as active income (loss) but it will be showed as passive in more recent yrs.? Thanks and I’ll be happy to give u a high rating!
There's no issue. active vs passive is determined on a year by year basis.
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,032
Experience: Adjunct Professor
Verified
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