topic Should a K-1 from stock held in a Sep be reported? in Business & farm

Should a K-1 from stock held in a Sep be reported?

astrodan — Fri, 16 Oct 2020 00:13:55 GMT

I received a K-1 from a company within a SEP IRA. Should I include it in my Tax REturn.

Critter-3 — Fri, 16 Oct 2020 00:47:42 GMT

Noooooo... what happens inside an IRA STAYS in the IRA. Do NOT enter it on a tax return.

AmeliesUncle — Fri, 16 Oct 2020 01:13:52 GMT

The K-1 should have been sent to the agency holding the SEP, and you need to give it to them.

In some cases, it may be taxable to the SEP.