I received a K-1 and there is income on Page 1 in Box 11. What do I need to do with this K-1?

You will need to report these items from your K-1 on your own personal income tax return. Keep all K-1s for your records, but you do not need to file them with the IRS. We’ve already sent copies to the IRS.

Please refer to the Tax Software section of our Knowledge Base for further guidance. 

If you are self-preparing your taxes and need additional assistance understanding your K-1, reach out to tax@masterworks.com.