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I received a K 1 from an MLP held in my IRA rollover

I received a K...

I received a K 1 from an MLP held in my IRA rollover account. Do I report these figures the same as I do all other K 1 accounts I have? I thought an IRA account that continues to grow just changes the amount of the annual distribution requirement.

Accountant's Assistant: The Accountant will know how to help. Is there anything else the Accountant should be aware of?

I have several more K 1 holdings and I understand the tax treatment for them, but an MLP held in a IRA rollover I think should not reported.

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Answered in 1 minute by:
3/25/2018
Richard
Richard, Tax Attorney
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Good morning. No, a K-1 relating to an interest owned in an IRA does not go on your personal return. It's income to the IRA, not to you. Therefore, the income on the K-1, as you thought, does not go on your personal return.

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Customer reply replied 28 days ago
Ok and thanks, that is what I thought also.

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Customer reply replied 28 days ago
I will give you five stars.

Thank you so much! I know rating takes an additional step and I truly appreciate you taking the extra time!

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