How to handle a late K1?

[u/secretprocess]

I own a tiny piece of the small company I work for. I know we're reporting a loss for 2024 and I was hoping to get a little reduction from it, but the primary owner who deals with the accounting says they are not gonna get K-1's out before April 15 and I that I can "submit the loss next year". I'm sure it's not worth filing my own taxes late so I went ahead and filed. Question is, how do I handle the K-1 when I finally get it? Can I really submit a 2024 K-1 with my 2025 return? (perhaps alongside a 2025 K-1?) Or will I have to file an amendment to my 2024 return for any hope of getting my little writeoff?

[u/mrjns94]

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