Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
Sometimes it's embarrassing when you're asked a question and you don't have the answer...

My brother filed his return last month and recently received K-1s from several partnerships, including some he sold. It would be simpler if he could just file a "fresh" return as if the first return hadn't been filed. Somewhere in the recesses of my fading memory I recall that this might be acceptable since it's still before the filing deadline.

If not, he'll have to file an amended return, which will not be a trivial exercise considering the types of information on the K-1s and sales schedules.

So... can he just file another "new" return with a later filing date than the original return or will this create problems?

Ira
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement