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ggsalomon
New Member

How do I enter a K1 from an MLP I own in a Roth IRA?

 
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3 Replies
ggsalomon
New Member

How do I enter a K1 from an MLP I own in a Roth IRA?

I know I must pay taxes on the UBTI, (line 20, V) but I am not sure if I just enter it as another K1, or if there is some other form I must enter since it is held within my Roth.

How do I enter a K1 from an MLP I own in a Roth IRA?

If you hold a Master Limited Partnership (MLP) in a retirement account,.filing a 990-T and paying taxes on UBTI is required if the account that generates $1,000 or more in UBTI, which is reported in Box 20-V of the K-1 tax form. The IRS requires reporting of the UBTI as income on the 990-T form, under an account specific employee identification number (EIN).  Check in the notes- if the 990-T was filed, it will be indicated and you do not have to do anything else.
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How do I enter a K1 from an MLP I own in a Roth IRA?

In most cases, you do not enter your retirement account K-1s, see below for exceptions that apply.

https://ttlc.intuit.com/replies/6391525


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