I have a client who has been sitting on my Completed return for over a month only to send me a New K1 to be included to the return showing a Loss for the year. Great for me having to shred their prior completed return and include the Loss but with no capital account information showing on the K1's to deduct the loss in question. Then client sent the completed 1065 return to me and still no capital account information but with the return it seems they filed a Form 2553 election which raises more questions!!!  Why would they file a 2553 S-election and attach it to the Form 1065 when they want the election to begin with the initial return and start of business?  Inquiring minds want to know.....

Thank you.