What Happens if I Upload a K-1 with Incorrect or Missing Information?

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Here’s how K-1x handles different types of errors:

Wrong Taxpayer ID (EIN)

K1Aggregator uses the issuer EIN to match the K-1 with an investment in the client’s file. If there’s no match, a new investment line item is created.
✅ To correct a mismatched investment, use the “Upload with K-1 Reader” option (accessible via the three dots overflow menu in the investment row toolbar).

Wrong Tax Year

Simply upload the K-1 into the correct tax year.
✅ If a prior-year K-1 was accidentally uploaded to the current year, uploading the correct K-1 will overwrite the incorrect one.

Incorrect Activity Number

You can manually correct the activity number on the individual K-1.
✅ For multiple corrections, export the investment listing, make your edits, and re-import the list using the Investment Import feature.

Circular 230 Disclosure

To ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained in this software (including any reports or downloads) is not intended or written to be used and cannot be used for the purposes of (i) avoiding penalties under the Internal Revenue Code or (ii) supporting, promoting, marketing or recommending to another party any transaction or matter addressed herein. This software is for informational purposes only and should not be regarded as tax advice. Please consult your tax advisor or attorney for guidance on your individual tax situation.

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