Late October 2019 I received notification from Fidelity that form 990-T for tax year 2018 was filed on my behalf.
Net/Net of this filing was a capital gain/business taxable income of $65K with a tax paid/deducted and sent to the IRS for a total of $12K (including a penalty and interest of).
The transaction was related to a Master Limited Partnership I held in my IRA for three years and closed out in early 2018. I need some clarification on what to do next, if anything.
Do I need to amend my 2018 return to reflect this federal tax payment? Do I need to address this transaction on my upcoming 2019 return? There is a statement that says:
"This filing and excise tax payment does not impact your individual tax return"
