Schedule K-1 in Roth IRA

Forum|Forum|1 year ago
February 22, 2025
2 replies
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I have read two different accounts on whether a Schedule K-1 from a Roth IRA needs to be included when filing year end taxes with IRS. Please clarify if inclusive of Schedule K-1 is necessary?

One account indicated it was not necessary and one account indicated it was necessary providing the total amount of Schedule K-1s did not exceed $1000.

AnnetteB6

Take a look at the K-1 itself to see if it was issued to your Social Security number or to the Federal tax ID of the Roth IRA account. If it is under your Social Security number, then you should include it as part of your tax return.

Otherwise, keep it with your tax records because it is reporting earnings that were made within the Roth IRA.

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dmertz

Employee

Nothing about a Schedule K-1 for an investment held within your Roth IRA is reportable on your individual tax return.

If such a Schedule K-1 (Form 1065) shows an amount that in box 20 with code V and the total of all such amounts from Schedules K-1 totals $1,000 or more, the IRA must file a tax return, Form 990-T to report this Unrelated Business Taxable Income (UBTI) and the Unrelated Business Income Tax (UBIT).