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Retirement tax questions
I have a couple of investments in MLP's in my IRA. Last year I received a completed form 990-T after I filed my returns. My research leads me to the unfortunate conclusion that indeed the income over $1000 received from an investment in an MLP residing in an IRA is Federally Taxable in the year in which you receive it. Is there a provision in Turbo Tax to address this and include this in the tax calculations? I cannot find anything mention or even the acknowledgement of the form 990-T. Any help would be appreciated.
‎December 8, 2020
8:50 AM