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Rjg123
Returning Member

What is included to compute UBTI from schedule K-1

I have received a K-1 from an investment in my IRA. 

It has negative amount in box 20 V. Is that ther only amount I use as UBTI for form 990-T that my IRA brokerage will fill out? Or do I also give them amounts from K-1 boxes 1, 2 and 5. Box 1 has negative amount also while the other two boxes have positive values. 

 

I am asked by my brokerage to provide prior years' NOL amounts. So I am wondering if that should be just amounts listed in box 20 V or also add amounts from boxes 1, 2 and 5 to amount from box 20 V. 

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1 Reply
JamesG1
Expert Alumni

What is included to compute UBTI from schedule K-1

Provide the broker your K-1 as well as the box 20 V statement and the prior years' NOL amounts.

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