ThomasM125
Expert Alumni

Business & farm

The 1099-B reports a $1 sale, so technically it should be reported, but would not raise concern if it wasn't reported due to the materiality of it.

 

The K-1 reports no income or deductions that I can tell, so it wouldn't need to be reported.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"