Regarding unrelated business taxable income (UBTI). I understand for a tax exempt account there is a $1,000 threshold before any UBTI needs to be reported. Does that threshold apply to brokerage accounts that are not tax exempt?
This UBTI is from a publicly traded partnership. Does that effect whether it needs to be reported? A lot of income from a K-1 needs to be also reported as other income on form 1040.
