"When an IRA invests in a partnership or LLC, the IRA owner will receive a Schedule K-1 that they must report on their tax return."This is completely wrong. Not...
@maglib, you are confusing the requirements for reporting earnings on returned IRA contributions with the requirements for reporting earnings on distributions o...
Code J and Pub 590-A have nothing to do with this distribution from a 401(k). Code J is only used with distributions from a Roth IRA.It seems that the correctiv...
The earnings are reportable on the tax return for the year in which they were distributed. See page 26 of IRS Pub 560:https://www.irs.gov/pub/irs-pdf/p560.pdf