I received a bunch of K-1 forms from day trading the past year. There are only zeros in part III on the K-1 form. Do I need to include them in my taxes?

[Anonymous]

The funds were held less than a day.  Any gains or losses are reported on my brokerage 1099, but the K-1 forms only show zeros.  I also received a blank sales schedule for each one.

[MichaelL1 · Accepted solution]

If part III are zero's and the gain or loss on the sale is reported on the 1099B, these K-1's do not need to be entered again.

There were issued to show you sold your interest in a publicly traded partnership, and you have already accounted for it on the tax return. 

[Anonymous]

Thanks for the answer! Just to reiterate, because I held the shares for less than a day and during that short time the partnerships did not do anything that resulted in pass-through gains or losses there is nothing to report to the IRS for the K-1 forms and they can be ignored and not reported to the IRS.

I then only need to report the gain/loss from the trades on my 1099B/8949 using information from my broker.  The sales schedules included with the K-1's also show zero's for adjustments so it shouldn't change anything that was reported on my 8949 from my broker.

Basically the K-1's are just for my information about a position I held in a publicly traded partnership (even though it was for a very short time), and I don't actually need to do anything with them.

[MichaelL1]

That is correct, just keep them in the tax file for your records.