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BriHin
April 11, 2025
Question

Do I need to file info on a K-1 form if it is below $2,000?

  • April 11, 2025
  • 1 reply
  • 0 views
I have a small stake in an oil well with many other partners. The income for me is minimal each year--under $2,000. Do I need to report it?

    1 reply

    April 11, 2025

    Yes.  If you file a return, you must include all income from all sources regardless of the amount of the income.  

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