If I receive a K1 with a distribution for a LLC that is in my IRA do I need to report it on my tax return?

[allen_helvajian]

If the LLC I belong to is held within my IRA, do I need to report any distributions on my current year tax return (I have not retired yet)?

[Fern · Accepted solution]

You do not need to report your IRA's income or loss in your individual tax return. The K-1 should be in the name of your IRA or note IRA in the account holder name.

[adinacoca]

Is there a limit to how much an IRA member of an LLC can receive as a distribution on the K1?