How to figure capital gains on sale of mlp's in a roll over ira

Forum|Forum|1 year ago
February 4, 2025
1 reply
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How is it that you have capital gains from a MLP's in an IRA and leave or move such assets to another IRA. the cost basis out weighs the sale price, so I dont see where I would have capital gains. I did not take a distribution, straight roll over less the broker sold MLP's. The UBTI is less than the 1000 you get with no taxes due. I just donot understand how there can be capital gains.

Best answer by RobertB4444

If the investments were sold at a loss then there should not be a capital gain to report. You should consult with your broker as to why there are gains shown.

@bull1908

RobertB4444Answer

If the investments were sold at a loss then there should not be a capital gain to report. You should consult with your broker as to why there are gains shown.

@bull1908

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bull1908Author

The broker can not answer these questions either. They use a third party accounting firm and I have been waiting 90 days on this information. They have sent back a bunch of garbage from some 990 t info, form 4797 that just shows capital gains no work sheets, shcedule I schedule D form 1041 same stuff.

SusanY1

Can you please provide a little additional information. Are you seeing capital gains on a 1099-B or on a K-1? Or only on the forms that you have listed here?

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