<p>Due to complications with a business, we have not received our K-1 yet and can’t finalize our taxes. We have an estimated number we can “plug in” and then send the taxes as a draft to IDOC. We can then (within a month) finalize and update with signed returns. Is this acceptable? The accountant won’t sign the draft to make it a final until he receives the K-1 from the business. Not sure what to do. The colleges that S applied to said to send in what we have…</p>
<p>We have the same problem and won’t receive the K-1 until mid to late March. The schools my son has applied to say not to submit the IDOC until you have all forms. I think the schools are asked this question many times. One would think there would be a K-1 FAQ on the College Board website.</p>
<p>I will paste in an email I received today. “The deadline is not strict, it is okay to wait and sent your documents when they become ready. Do not worry! (smiley face at end)”</p>
<p>But being a professional worrier, I worry anyway.</p>
<p>You’re doing the right thing. It’s important to contact the individual schools (as you’ve done) and find out how they want you to deal with it. They may not all have the same answer, but I think most are happy to work with people, and they’ve no doubt dealt with these issues plenty in the past.</p>