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Hi and welcome to JustAnswer:
You are required to report the information received on investement account K-1 on your personal return.
The other K-1s are part of your IRA. In most cases, these K-1s are exempt from taxation. However, if your Unrelated Business Taxable Income (UBTI) is $1,000 or more, your IRA will be required to file a Form 990-T. If there is UBTI, the K-1's should have a Code "V" in Box 20 of the K-1.
I have provided a link to IRS Publication 598 that explains UBTI and who is taxable.
You must report each line of the K-1 on the specific form listed on page 2 of the K-1. I have provided a link below to the Schedule K-1 and the information for preparation of your individual return on page 2. This input may include Schedule E with details for passive losses on Form 8582. Based on the limited information available, your analysis sounds correct. Your losses will flow to Form 8582. They may be suspended until the investment begins to turn a profit or you dispose of the investment.
This K-1 C. has provided a graphic guide (flowchart) with the following as their first note: "if the sum of K-1 boxes 1,2,3,4,8,9a,10,11,12 and 13J result in a negative number (a passive activity loss) DO NOT REPORT any of the amounts from boxes
1,2,3,4,8,9a,9b,9c,10,11,12,13J,15 and 17 on your federal tax return unless you sold
all shares in the curren tax year." These boxes do add to a negative on my K-1.
This appears to leave interest 5 , ord div 6a, qual div 6b, and some form 4952 items to report:13H and 20A..............any comments?
That's the first time I've heard that. Usually I transfer the amounts to the proper forms and end up with a passive loss carryover. My question is this, will the K-1 provider keep a schedule of your suspended losses or will you need to maintain a side schedule.
The interest and dividends must be reported as they are not passive income. The investment interest carries to form 4952 and may be limited based on your investment income.