ALL K-1 forms must be reported on the income tax return so going forward WAIT for this form to come in the mail before you file.    HOWEVER since the amount is so small you could not amend the return and wait to see if the IRS says anything about it in the future.  

Yes, you may have to amend your 2020 income tax return if Schedule K-1 has a taxable income on line 2 or 3 of 1065 K-1 or 1120-S K-1.  Otherwise, don't report it on your taxes.

A Schedule K-1 is a tax document used to report the incomes, losses, and dividends of a business's partners or an S corporation's shareholders. The Schedule K-1 document is prepared for each individual partner and is included with the partner's personal tax return.

Okay, on form 1065 K-1 I only have income reported in line 11C.  Thanks for the help.