I would like to submit my taxes, but I'm waiting on a K-1. It won't be done for a couple of months. My questions: can I file it as an amendment? Is there a penalty for filing an extension even if I don't owe any money? Thanks, Kate
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K-1 as an Amendment
Apr 03, 2007
2 Replies
Since you know you can't file a complete return now, I'd do the extension, estimating the amount of tax that will be due when the missing K-1 is included. To me this is much easier than filing an amended return later. There is no penalty for filing for an extension.
-- Phil Marti Clarksburg, MD
File for the extension. It's free and there are no conditions, other than to pay what you owe prior to
4/17/2007 (or make your best estimate).
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