Do I report $ 11,000 of UBTI tax, $300 late fee and $400 prep fee on my 2018 return for a transaction that occurred in 2017 and was calculated in2018

posted

Connect with an expert

1 Best answer

Accepted Solutions

Do I report $ 11,000 of UBTI tax, $300 late fee and $400 prep fee on my 2018 return for a transaction that occurred in 2017 and was calculated in2018

What happens inside an IRA stays in the IRA ... none of that is reported on a Personal Income Tax return.

View solution in original post

3 Replies

Do I report $ 11,000 of UBTI tax, $300 late fee and $400 prep fee on my 2018 return for a transaction that occurred in 2017 and was calculated in2018

Was this return done for an IRA account ?

Do I report $ 11,000 of UBTI tax, $300 late fee and $400 prep fee on my 2018 return for a transaction that occurred in 2017 and was calculated in2018

yes

Do I report $ 11,000 of UBTI tax, $300 late fee and $400 prep fee on my 2018 return for a transaction that occurred in 2017 and was calculated in2018

What happens inside an IRA stays in the IRA ... none of that is reported on a Personal Income Tax return.

Still have questions?