Permalink Submitted by mk foss on Wed, 2009-02-25 01:35
Generally, receiving a K1 for an IRA investment is not reportable. If the K1 shows Unrelated Business Income that exceeds $1,000, Form 990-T is supposed to be filed. If that were to occur, you should contact the custodian to see if they will handle the filing of that form which is due April 15 each year.
Permalink Submitted by mk foss on Wed, 2009-02-25 01:35
Generally, receiving a K1 for an IRA investment is not reportable. If the K1 shows Unrelated Business Income that exceeds $1,000, Form 990-T is supposed to be filed. If that were to occur, you should contact the custodian to see if they will handle the filing of that form which is due April 15 each year.