| Form 1-K Issuer Information | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 1-K | OMB APPROVAL |
| OMB Number: 3235-0720 Estimated average burden hours per response: 600.0 |
1-K: Filer Information
| Issuer CIK | 0001845195 |
| Issuer CCC | XXXXXXXX |
| Is filer a shell company? |  Yes  No |
| Is the electronic copy of an official filing submitted in paper format? |  |
| File Number | |
| Is this filing by a successor company pursuant to Rule 257(b)(5) resulting from a merger or other business combination? | Yes No |
| Successor File Number |
| Is this a LIVE or TEST Filing? | LIVE TEST |
| Would you like a Return Copy? |  |
| Period | 12-31-2021 |
| Name | |
| Phone | |
| E-Mail Address |
| Notify via Filing Website only? | |
1-K: Tab 1 Notification
| This Form 1-K is to provide an | Annual Report Special Financial Report for the fiscal year |
| Fiscal Year End | 12-31-2021 |
| Exact name of issuer as specified in the issuer's charter | Masterworks 046, LLC |
| CIK | 0001845195 |
| Jurisdiction of Incorporation / Organization | DELAWARE |
| I.R.S. Employer Identification Number | 86-1738893 |
| Address 1 | 225 LIBERTY STREET, 29TH FLOOR |
| Address 2 | |
| City | NEW YORK |
| State/Country | NEW YORK |
| Mailing Zip/ Postal Code | 10281 |
| Phone | 203-518-5172 |
| Title of each class of securities issued pursuant to Regulation A | Class A ordinary shares |
1-K: Summary Information Regarding Prior Offering and Proceeds
Summary Information
The following information must be provided for any Regulation A offering that has terminated or completed prior to the filing of this Form 1-K, unless such information has been previously reported in a manner permissible under Rule 257. If such information has been previously reported, check this box and leave the rest of Part I blank.
| Commission File Number of the offering statement | 024-11464 |
| Date of qualification of the offering statement | 07-19-2021 |
| Date of commencement of the offering | 07-20-2021 |
| Amount of securities qualified to be sold in the offering | 122100 |
| Amount of securities sold in the offering | 122100 |
| Price per security | $ 20.0000 |
| The portion of aggregate sales attributable to securities sold on behalf of the issuer | $ 2442000.00 |
| The portion of the aggregate sales attributable to securities sold on behalf of selling securityholders | $ 0.00 |
Fees in connection with this offering and names of service providers.
| Underwriters - Name of Service Provider | Independent Brokerage Solutions LLC | Underwriters - Fees | $ 26281.00 |
| Sales Commissions - Name of Service Provider | Independent Brokerage Solutions LLC | Sales Commissions - Fee | $ 73260.00 |
| Finders' Fees - Name of Service Provider | N/A | Finders' Fees - Fees | $ 0.00 |
| Accounting or Audit - Name of Service Provider | LGA, LLP | Accounting or Audit - Fees | $ 5500.00 |
| Legal - Name of Service Provider | Anthony L.G., PLLC | Legal - Fees | $ 5000.00 |
| Promoters - Name of Service Provider | N/A | Promoters - Fees | $ 0.00 |
| Blue Sky Compliance - Name of Service Provider | Anthony L.G., PLLC | Blue Sky Compliance - Fees | $ 5000.00 |
| CRD Number of any broker or dealer listed | 153563 |
| Net proceeds to the issuer | $ 2442000.00 |
| Clarification of responses (if necessary) | Estimated Net Proceeds Calculation (above) of $2,442,000 does not include any offering fees as all fees in connection with the offering are to be paid by Masterworks Administrative Services, LLC. |