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winktax
winktax, Enrolled Agent
Category: Tax
Satisfied Customers: 425
Experience:  18 years experience as an Enrolled Agent, insurance agent, stock broker and financial advisor.
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K-1 statement reporting

Resolved Question:

I have received K-1 statements from limited partnership investments I have in my SEP-IRA. Do I have to post these on my Federal Tax return since they are held in an IRA account?
Submitted: 4 years ago.
Category: Tax
Expert:  winktax replied 4 years ago.

winktax :

No.

winktax :

Schedule K-1, Part II, Line I should indicate "Entity is this Partner?" which should be IRA/SEP/KEOGH. This line indicates to the IRS that this K-1 information will be no be reported.

winktax :

You can also confirm the Partner's Tax ID listed in Part II, line E is not your social security number but the tax ID of the SEP custodian.

winktax :

I hope the above answers your question. If so please click the accept button. Otherwise please provide additional information and or clarifying questions so that I can provide a more specific answer.

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