Hello everyone. At the very end of 2024 I accidentally bought one share of ET in my brokerage account. Being such a small amount (at about 18 bucks) I pretty much just ignored it until January 2025 when I sold it (at about 20 bucks).
I got the k-1 info this year, and upon checking the online portal I saw that I have a k-1/k-3 for the purchasing year (2024) as well. The income, losses, distributions, etc. were all 0 last year.
For 2025 income, it looks like it is going to be the same, though I still need to wait on the k-3.
Do I need to amend last year's tax return to include the K-1 on a schedule E (which I would have no other reason to have), even though the income/loss were both 0? (2024 taxes). Will I have to file for every single state (it looks like there's like, 20 on the k-1 info, all with 0s next to all values)
Do I need to file a schedule e this year (2025 taxes)?
are the values so low that I should just ignore these forms entirely?
Accidentally bought one share of an LP and now the K-1 is stressing me out
byu/bentbabe intax
Posted by bentbabe
1 Comment
What are in boxes 1-5 of the K-1. If they are 0 I would just ignore it. But keep them in your records to track your basis