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RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience:  CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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Do I have to report my Schedule K-1 (Form 1065) information

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Do I have to report my Schedule K-1 (Form 1065) information on my Income Tax Return (Form 1040) if it is a publicly traded LLC (DBC) who's shares were purchased under my Roth IRA?
If the shares are purchased under the Roth IRA account than the K-1 should be reported under the Roth IRA EIN and not under your SS#.

If this is under Roth IRA than you do not report under your SS#.

Let me know if you have any question.

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.

Edited by RD on 4/10/2010 at 8:28 PM EST
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