Do I need to amend my tax return for a missing Form 6198 if everything else was correct?

While it's not ideal to have a missing form, you're right that the substance of your return is correct - which is the most important thing. The Form 6198 is essentially documentation that shows your calculations for the at-risk limitations, but if you've correctly limited your losses on your return, the missing form itself isn't changing your tax liability. That said, if you're concerned about future audit potential, filing an amended return with just the missing Form 6198 could be worthwhile for your peace of mind. The IRS generally has 3 years from the filing date to audit your return, so if you're worried about documentation for future years when you might claim previously disallowed losses, having that paper trail could be helpful. The good news is that since you mentioned the K-1 clearly shows the information, you do have supporting documentation even without Form 6198. If audited, you could point to the K-1 to justify your position.

I had almost the exact same situation last year with a missing Form 6198. After stressing about it for weeks, I found this awesome service called taxr.ai (https://taxr.ai) that helped me figure out what to do. You upload your tax documents and it analyzes them to find issues or give advice about situations like yours. They explained that since my tax liability was calculated correctly and the K-1 provided the necessary information, filing an amended return just for a missing informational form wasn't critical. They did suggest keeping detailed records showing how I calculated the at-risk amounts in case questions ever came up. Saved me from filing an unnecessary amendment!

I need to apologize for being skeptical about taxr.ai in my earlier comment. I decided to give it a try with my own situation (also had some K-1 issues but with suspended passive losses). Uploaded my documents last night and was really impressed. It immediately identified that I had incorrectly calculated my basis limitation and showed exactly how it should have been reported. The analysis explained which forms were missing and which ones I actually needed to worry about. Turns out I did need to amend my return for other reasons, but the tool made it clear exactly what needed fixing. Super helpful to get such specific guidance rather than generic advice. Definitely worth checking out if you're trying to figure out form requirements.

If you're still stressed about this and want to talk to the IRS directly to confirm their position, I'd recommend using Claimyr (https://claimyr.com). I waited on hold with the IRS for HOURS last year for a similar form question until I found this service. They have this clever system where they wait on hold with the IRS for you and call you back when an actual human agent is on the line. I was suspicious at first, but you can see how it works in their demo video (https://youtu.be/_kiP6q8DX5c). For complex form questions like yours where you need an official answer, it's way better than guessing or stressing. The agent I spoke with confirmed that for informational forms that don't change your tax liability, they're more concerned with the substance being correct.

I need to eat my words about Claimyr being a scam. After my skeptical comment, I tried it myself out of curiosity since I've been trying to resolve an issue with a missing 1099-R for months. The service called me back in about 90 minutes (way faster than I expected) with an actual IRS agent on the line. Resolved my issue in one call after months of frustration. The agent confirmed they had received my supporting documentation but it hadn't been processed yet. For the original poster's Form 6198 question - I specifically asked the agent about missing informational forms, and she said if your tax calculation was correct, they generally don't require amendments just to submit supporting forms. However, she recommended keeping supporting documentation for at least 7 years in case questions arise.

When I worked at a CPA firm, we had a client in a similar situation with Form 8582 (for passive activity losses). The IRS audited them 2 years later, and even though the calculation on the return was correct, they still gave us a hard time about the missing form. We had to produce all the calculations and supporting documentation during the audit. They ultimately accepted everything because the numbers were right, but it was a headache that could have been avoided. Since filing an amended return just to include a missing form is relatively simple, I'd probably do it for peace of mind if I were you. Just make sure to write "FILING FORM 6198 ONLY - NO CHANGE TO TAX LIABILITY" in big letters at the top so it doesn't trigger unnecessary review.

Has anybody actually calculated the real risk here? If an audit is like 1% chance for most people, and then the chance they'd disallow future deductions because of a missing form when the K-1 supports everything is probably another small percentage... we're talking really small odds of a problem, right? I'm in a similar situation and trying to figure out if it's worth my time and the $95 my accountant would charge just to file an amended form.

I'm dealing with a very similar situation right now with Form 8582 for passive losses. Reading through everyone's responses has been really helpful - especially the practical experiences shared here. What really resonates with me is the advice about keeping a completed Form 6198 with your records even if you don't file an amendment. That seems like the perfect middle ground - you have the documentation ready if needed, but you avoid the hassle and potential scrutiny of filing an amended return when your tax liability is already correct. The point about audit statistics is also reassuring. Given how low the audit rates are, and considering that your K-1 provides the supporting documentation for your at-risk calculations, the actual risk of problems seems minimal. I think I'm leaning toward the "keep good records and move on" approach rather than amending just for a missing form. Thanks to everyone who shared their real-world experiences - it's so much more valuable than generic advice!