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Are royalties, interest and dividends reported in boxes 5,6a…

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Are royalties, interest and...

Are royalties, interest and dividends reported in boxes 5,6a and 7 of schedule K-1 required to be reported if held if stock is held in an IRA

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Submitted: 22 days ago.Category: Tax
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3/29/2018
Tax Professional: Lev, Tax Advisor replied 22 days ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 32,682
Experience: Taxes, Immigration, Labor Relations
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if stock is held in an IRA - NOTHING is reported for royalties, interest and dividends credited inside IRA account.

You should not have K1 for stock held in an IRA

We will ONLY report IRA distribution reported on form 1099R.

Please verify.

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Tax Professional: Lev, Tax Advisor replied 21 days ago

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Experts are ONLY credited when answers are rated positively.

If you still have any doubts, need clarification - please be sure to ask.

I am here to help you with all Social Security / Tax related issues

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