
Anonymous
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After you file
tt is right if box 12 is check, the k-1 is not reported on your 1040 return
partnerships report unrelated business taxable income (UBTI) in box 20 (2018) if over $1,000, for any type of retirement account it is suppose to file 990-T
you will see the same in TT for 2020- box 12 check - don't report on 1040. look at box 20 for UBTI and if over $1,000 you'll need to do a 990-T which TT doesn't handle.
sorry, but pay the IRS what it asks because penalties and interest continue to build.
https://www.irs.gov/pub/irs-pdf/f990t.pdf
‎October 24, 2019
10:04 AM