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re: Limited Partnership (K-1 Question)
Posted on 2/21/23 at 4:32 am to WM88
Posted on 2/21/23 at 4:32 am to WM88
These things basically fling shite all over your tax return, turning it into something that potentially requires professional help.
Some people own these within their IRA thinking they can get around it. They also can have UBTI (Unrelated Business Taxable Income) which can cause your IRA to have to pay taxes if over a certain amount….I believe it is $1,000 of UBTI. Filing and payment requirements should be handled by the company who manages the IRA.
Some people own these within their IRA thinking they can get around it. They also can have UBTI (Unrelated Business Taxable Income) which can cause your IRA to have to pay taxes if over a certain amount….I believe it is $1,000 of UBTI. Filing and payment requirements should be handled by the company who manages the IRA.
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