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Level 2
May 9, 2023
Solved

2022 K-1 held in IRA

  • May 9, 2023
  • 1 reply
  • 0 views

I'm using desktop Turbotax.

 

I have a K-1 for partnership shares held in an IRA. I see no way to enter the fact that it is so held; instead, Turbotax has included partnership gains in my income. How do I prevent that, or correct it?

    Best answer by Critter-3

    A K-1 issued to the IRA   is  NOT entered anywhere on a personal income tax return  ... if you have bypassed the warning and entered it in the TT program in error then simply remove the information entered.

     

    https://ttlc.intuit.com/questions/2903043-how-do-i-delete-a-k-1

    1 reply

    Critter-3
    Critter-3Answer
    Level 15
    May 9, 2023

    A K-1 issued to the IRA   is  NOT entered anywhere on a personal income tax return  ... if you have bypassed the warning and entered it in the TT program in error then simply remove the information entered.

     

    https://ttlc.intuit.com/questions/2903043-how-do-i-delete-a-k-1

    Level 2
    May 9, 2023

    Thanks much!