5 replies to this topic

[TEO]

If your (IRA account, holds units in one or more partnerships, the following information
should be of interest to you.

Unrelated Business Taxable Income (UBTI)

Generally, IRAs are not subject to taxation on earnings from investments until such
earnings are withdrawn from the IRA. However, current law requires that IRAs with
$1,000 or more in "Unrelated Business Taxable Income" (UBTI), file a special tax return,
IRS Form 990-T (Exempt Organization Business Income Tax Return). UBTI is generated by certain partnerships.

[TakeAStepBack]

Excellent. IR Ah SIIMUBTI.

[TEO]

AMT = SIIB

[TakeAStepBack]

[Julius]

Given that financial institutions don't report, and are not required to report, any activity in IRA accounts, is it safe to assume that this can be largely ignored?

[TEO]

Interesting, I see many K-1s issued to IRAs...