this is from IRS instructions with filing requirements for dependents
Single dependents. Were you either age 65 or older or blind?
No. You must file a return if any of the following apply.
• Your unearned income was over $1,250.
• Your earned income was over $13,850.
• Your gross income was more than the larger of—
• $1,250, or
• Your earned income (up to $13,450) plus $400.
Yes. You must file a return if any of the following apply.
• Your unearned income was over $3,100 ($4,950 if 65 or older and blind).
• Your earned income was over $15,700 ($17,550 if 65 or older and blind).
• Your gross income was more than the larger of—
• $3,100 ($4,950 if 65 or older and blind), or
• Your earned income (up to $13,450) plus $2,250 ($4,100 if 65 or older and blind).
so as being required to file, probably no.
however, if he doesn't file his 2023 return by 4/15/27, he will forfeit his ability to use that loss to offset future partnership income. also, the ability to use that loss if needed next year is dependent on filing 2023. no filing, no allowable loss. Turbotax basic online does not support a k-1 so he would have to upgrade. whether it's worth or not to file depends on the amount of the loss vs the cost of filing. after the filing season for 2023 closes on or about 10/15/2024, he will need to purchase a desktop version to prepare and file his return. it cannot be efiled and thus would have to be mailed. A mailed return should use tracking info to make sure the IRS gets it.
