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How will the review of my S-Corp (or LLC, partnership, etc.) affect the taxes of the other shareholders or partners?

April 26, 2017affect LLC partners partnership review s-corp Shareholders taxes

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How will the review of my S-Corp (or LLC, partnership, etc.) affect the taxes of the other shareholders or partners?

1 Answer

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If there were changes to the Sub S return to reflect additional deductions, an amended return would be filed. The other partners may or may not amend their returns. There is no mandatory amending requirement to claim additional deductions.