What do I do with Schedule K-1 (Form 1065)? It shows capital contributed during the year $178.00 Tax Basis is checked with an X. All other boxes are zero

[MichaelL1 · Accepted solution]

If the boxes for income and expenses are all $0's then you do not need to enter this anywhere in your taxes.

There is no income or expenses to report and just keep the K-1 with your tax records to track the basis.