To create and file the amended partnership return in TaxAct:
Ensure that you have a copy of your original return.
If you used TaxAct to file the original, you can choose to print a copy of the original return at this time. If you already have a copy, continue below.
If you used another program, or didn’t print or save your return when you filed, you will need to obtain a copy from the IRS before continuing.
Open the return.
Enter the correct information in each part of the return, as applicable.
Make a note of each item you are changing and the reason for each change. You will need these notes for the next steps.
Choose Filing, then Amend Federal Return.
Continue through the informational pages, then on the Amended Federal Return - Complete Form 1065X screen, check the Amended Federal Return box and click Continue.
Continue the interview process to enter the values from the original return and the explanation of changes for each line that was changed.
On the screen titled Amended Federal Return - Filing Form 1065X select either Paper Filing or E-Filing and click Continue.
Complete the filing steps.
TIP: If you are paper-filing, and the corrected amount involves an item of income, deduction, or credit, attach the appropriate schedule, statement, or form to Form 1065X. Include the entity’s name and EIN on any attachments. If the attachments needed to support the corrected amount include copies of forms or schedules from previously filed tax returns, write at the top of each previously filed form or schedule: "Copy Only—Do Not Process."
If you filed the original return through TaxAct, you can create an amended return for free, however, there may be fees for any additional forms required that were not included in the original return.
Corrected Schedules K-1 (if applicable): If the income, deductions, credits, or other information provided to any partner has changed, then new Schedules K-1 must be filed with the amended return and corrected copies sent to the affected partners.
The IRS only mandates electronic filing for partnerships with more than 100 partners, that are required to use Form 1065-B (instead of Form 1065). Only partnerships that are mandated to e-file their return would be required to e-file an amended return. The IRS has a Guidance for Amended Partnership Returns webpage that provides additional information.
If partnership is amending its federal return, it may also have to amend certain state returns.
Your request has been submitted
You have been successfully added to the TaxAct Do Not Sell list.