topic Schedule k-1 in Get your taxes done using TurboTax

Schedule k-1

BrotherAl1874 — Wed, 31 Mar 2021 19:29:28 GMT

I received various K-1 forms for 2020. 2 of the K-1 forms were generated from limited partnership investment activity in my self-directed IRA... others were generated from a joint non-IRA account. I am certain I will need to report/file on the non-IRA account, however, do I need to enter anything for the IRA account activities since they are not taxable.

Re: Schedule k-1

MinhT1 — Wed, 31 Mar 2021 19:38:23 GMT

You do not report any income (or loss) occurring within your IRA account on your tax return.

Re: Schedule k-1

Mike9241 — Sun, 04 Apr 2021 18:41:47 GMT

do the IRA k-1's report unrelated business taxable income (UBTI) in box 20?

if over $1000 you need to furnish the k-1's to the IRA trustee because the IRA owes a tax on the UBTI.