Question

I just received a 2023 Schedule K. In 2025!

Forum|Forum|1 year ago
March 17, 2025
1 reply
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I was a beneficiary of a trust when my parent died in 2023. I just now received Schedule K’s for both 2023 and 2024. I found where to enter the 2024 Schedule K on this year’s filing. Do I need to amend my 2023 return to address receipt of the old 2023 Schedule K? It appears it may net me a refund. Alternately, could I enter both forms on my 2024 tax return?

SharonD007

No, you can't enter your 2023 K-1 on your 2024 tax return. You will have to amend your 2023 tax return and enter your 2023 K-1 there. Refer to the TurboTax Help article How do I amend my federal tax return for a prior year? for navigation instructions.

Refer to the TurboTax article What is a Schedule K-1 Form 1041: Estates and Trusts? and Where do I enter a Schedule K-1 that I received? for instructions.

I'm so sorry for your loss,.

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