this is regarding my personal IRA.
Box 20 V shows a negative Unrelated business taxable income
Box 20 Z1 shows a positive Unrelated Business Gross Income
I am using Turbo Tax Premier
You'll need to sign in or create an account to connect with an expert.
Your IRA would be the taxpayer that files the 990-T. Did you ask your financial advisor if this service was being performed on your behalf? UBIT returns are often the responsibility of the custodians, or, at the least, are handled by them.
Netted together, is it under $1000?
Your IRA would be the taxpayer that files the 990-T. Did you ask your financial advisor if this service was being performed on your behalf? UBIT returns are often the responsibility of the custodians, or, at the least, are handled by them.
Netted together, is it under $1000?
Do you know how long this has been the case that custodians take on the responsibility of filing? I thought it was only until 2018 that the IRS mandated IRA custodians file 990-T's.
If you could provide any resource that would be great.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Meloniek74
Level 1
Karma5
New Member
NoMMitch
Level 1
laraburg
Level 1
Nchristy
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.