Question: After I filed a return and already got the about $3000 federal return and $1000 state return, I received a k-1 form which doesn’t really change my tax return much (only increased by $8), should I file an amended return?
I spent a whole afternoon filing the amended return and find out I owe $8 federal tax after taking into consideration of the k-1 forms received. seems not worth to file an amended return. even from IRS standpoint of view, It might cost more for them to process the amended return. from my side, the postage fee would be more than $8 given the return is about 40 pages federal and 40 pages of state. More important, from the link below, it says amended refund would be much more likely be audited (although it says especially if you are requesting more tax return)