Usually, business partners draft a partnership agreement when a partnership is formed that details who gets what in the partnership. If you did not receive a K-1 from your partnership, you can refer to the partnership agreement to determine your share of the income and expenses. You should also contact the officers of the partnership to see if a delay is anticipated in completion of the Schedule K-1. If they do not anticipate having the K-1 by your due date, you’ll most likely need to file an extension.
What if I didn’t get a K-1?
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