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Level 1
posted Mar 30, 2022 10:35:15 AM

Form 1065 K-1 Box i2 and Box 11

Box i2 is checked as this investment is an IRA.  However it is an ETF for energy and shows a loss in box 11 code C.  

My CPA says I can use this K-1 for the loss but checking box i2 removes the K-1 form.  Confused.

So do I report this K-1 or not?

0 1 121
1 Replies
Expert Alumni
Mar 30, 2022 10:54:24 AM

If box i2 is checked then the Schedule K-1 belongs to your IRA and you do not enter it on your personal tax return. If this is the case, Part II should list your IRA as the partner and box E should bear your IRA's TIN and NOT your SSN.

 

If box E bears your SSN then box i2 must not be checked.