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Silly me, I did some short term trading in USL within my IRA acct early in 2009. I got in and out a couple of times and made a couple of STCG's which I understand I do not report on my taxes. The gains will be taxed as ordinary income when I withdraw them sometime down the road.
But now they have sent me a K-1. I tossed it aside assuming I didn't need to include it on my tax form since the ownership/partnership participation was inside an IRA. But now on the eve of pushing the button to electonically file, I'm having second thoughts. I haven't come across specific info on this. Does anyone know the answer from already having marched down this path?
Thanks.
But now they have sent me a K-1. I tossed it aside assuming I didn't need to include it on my tax form since the ownership/partnership participation was inside an IRA. But now on the eve of pushing the button to electonically file, I'm having second thoughts. I haven't come across specific info on this. Does anyone know the answer from already having marched down this path?
Thanks.