K-1

drm101214arm — Mon, 14 Apr 2025 23:58:26 GMT

Please I need somebody help me clarify my ideas, a relative from Paraguay made a small investment in USA , he got three K-1 with a interest income of $1.00 in two of them and a dividend of $ 1.00 in the third one. He actually live in Paraguay , but traveled to USA last year and invested a small amount of money . Does he still needs to need to file taxes on these amounts of income ? Please advise

Re: K-1

RobertB4444 — Thu, 17 Apr 2025 18:17:57 GMT

Technically, yes. A nonresident must file a tax return for any income received from US sources. However, the tax bill on $3 USD is less than 50 cents so it would round to zero. So there isn't a point in filing.

Going forward your relative can ask the partnerships that he is invested in to withhold taxes for him. If taxes are withheld then there is no filing requirement in the US unless you would like a refund. So your relative's tax bill would already be settled.

@drm101214arm

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K-1

Re: K-1