You are technically required to report the income. However, since it's affect on your tax return may be minimal the consequence of not reporting it may be equally minimal. The only way to be sure though would be to make the entry.
K-1 forms can be very complex both in term of the number of possible entries on them and also processing those entries so they are accurately reflected on your tax return. They are likely the most complex aspect from a programming standpoint of the design of the program. I suspect that is why you have to upgrade to enter one, to cover the overhead cost of providing it to you.
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