I received a form K1 from an investment I made inside my Roth IRA account. I thought since this is part of the Roth IRA I don't have to do anything with this form and filed my 2017 tax return. Now I have heard that I should have put the K1 information into Turbo Tax. Is that correct? Do I have to amend my 2017 return? The form list a total of 5 different states including the state I live in. Do I have to file tax returns in those other 4 states listed as well? The company I invested money in is an MLP.
Thank you
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Income earned in a Roth IRA is not required to be reported. The name of the holder on the K-1 should be your Roth IRA account, which theoretically alerts the IRS that it does not need to be reported, but I would keep the K-1's "just in case" you need to respond to a letter from the IRS.
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