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wrong ss number on k1

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    wrong ss number on k1

    I have a s corp return where the only shareholder gifted his share to his brother in 2011. On his k1 i have the new name and address but i noticed the. Ss number is still the ss nuber that belpngs to the old shareholder. Do i need to amend this return to change that? Also there was no activity in this corp. Do i need to amend the new partners individual return and add the new k1 with the right ss number?

    #2
    Originally posted by ardi600 View Post
    I have a s corp return where the only shareholder gifted his share to his brother in 2011. On his k1 i have the new name and address but i noticed the. Ss number is still the ss nuber that belpngs to the old shareholder. Do i need to amend this return to change that? Also there was no activity in this corp. Do i need to amend the new partners individual return and add the new k1 with the right ss number?
    Sorry, I am not following exactly what happened here. SCorp return was filed but had no activity? No taxable info on K-1's? The SSN definitely needs to be changed on company records for the future if it is still in existence. And new partner has already filed? If K-1 had no income or deductions, I see no reason to amend at this point for no change.

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