K1 year after year with no income

[redheadsrock82]

I invested in a company years ago that did not go anywhere, no profit or loss. I am not an active partner with that company. I receive a K1 from them, or actually I have to ask for it now, every year and every year it is either zeros or maybe a negative one. Do I need to keep entering this K1 into turbo tax every year? Turbo Tax ask me about it because it was in there the previous year and that reminds me to contact that company for a copy. I just wasn't sure if I have to keep attaching it every year? Or only attach it if it shows an income? Can I delete it altogether? I would appreciate any help. Thank you!!!

[MinhT1 · Accepted solution]

If your K-1 shows all $0 then you do not need to report it on your tax return.

However, if it shows income (either positive or negative), you will have to enter it on your tax return.