Question on Contracts and Straddles

[Handsilver]

I received Scheduled K-1 for an investment on my Roth IRA account.  Should I still report it on my tax return?

Also, I noticed the amount on my Contracts and Straddles section is a negative value even before I enter any new entry on this section and I cannot modify it. Please advise.

[Mike9241]

NO. you do not report the K-1 on your 1040.  the Roth owns it. IRAs do not file income tax returns. 

you might want to look at box 20 to see if there is line 20V and if there is - is the amount over $1000?  then the IRA administrator is supposed to file 990-T  

[Handsilver]

Thank you for your quick response and I am going to skip it  then. Box 20 on the Schedule K-1 only have the line 20B for $20.