K-1 and Do I need to amend ?

[LMOAD]

My 2020 taxes have been filed. I received a Schedule K-1 which states no reportable amounts on both forms 1041 and 541. Do I need to amend my 2020 taxes?

[Mike9241]

since there's nothing to report there's nothing to amend. 

[npierson7]

No, you don't need to amend your tax return if there is no reportable amounts on the form K-1