Discussion:K-1 - ENTITY IS AN IRA
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Discussion Forum Index --> Basic Tax Questions --> K-1 - ENTITY IS AN IRA
Discussion Forum Index --> Tax Questions --> K-1 - ENTITY IS AN IRA
| 12 April 2008 | |
| This is the first time I have ever received a K-1 that box I is an IRA/SEP/Keogh. Do I report this as I would any
other K-1 or are only the withdrawals under the partners capital account taxable? Should I have received a 1099R? | |
| 12 April 2008 | |
| After looking closer at the K-1 - the partners id# is not his SS# so I guess this is reported to his IRA and if there is
a taxable amount he should receive a 1099R. | |
Nancyshoemake (talk|edits) said: | 12 April 2008 |
| just like dividends or stock sales, if it is in an IRA it is not reportable on the return... | |
Douglasholbrook (talk|edits) said: | 13 April 2008 |
| If it's ordinary income. | |
| 13 April 2008 | |
| Thanks for asking, I came across one of those today in a clients folder.
Love it when they bring in something "new to me" at the last minute | |
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