topic If I have schedule K and only an income of $4 do I still need to report it? in Business & farm https://ttlc.intuit.com/community/business-taxes/discussion/if-i-have-schedule-k-and-only-an-income-of-4-do-i-still-need-to-report-it/01/437652#M16632 Tue, 04 Jun 2019 22:09:43 GMT johnschlichting 2019-06-04T22:09:43Z If I have schedule K and only an income of $4 do I still need to report it? https://ttlc.intuit.com/community/business-taxes/discussion/if-i-have-schedule-k-and-only-an-income-of-4-do-i-still-need-to-report-it/01/437652#M16632 Tue, 04 Jun 2019 22:09:43 GMT https://ttlc.intuit.com/community/business-taxes/discussion/if-i-have-schedule-k-and-only-an-income-of-4-do-i-still-need-to-report-it/01/437652#M16632 johnschlichting 2019-06-04T22:09:43Z When one receives a document that reports income to the I... https://ttlc.intuit.com/community/business-taxes/discussion/when-one-receives-a-document-that-reports-income-to-the-i/01/437658#M16634 <P>When one receives a document that reports income to the IRS it is always best to apply the reported income on your Tax Return, regardless of how little it may be. Not reporting or under-reporting income can lead to penalties and interest being applied to any additional amount you owe. <BR /></P> Tue, 04 Jun 2019 22:09:44 GMT https://ttlc.intuit.com/community/business-taxes/discussion/when-one-receives-a-document-that-reports-income-to-the-i/01/437658#M16634 JaimeG 2019-06-04T22:09:44Z