This year I've noticed from brokerages a bunch of fussy communications about Unrelated Business Taxable Income generated in a IRA. For many years inside an IRA I've held an investment that generates UBTI, usually a negative amount, but some years a few dollars. AFAIK tax law says such UBTI can be ignored if it's less than $1000.
This has been no problem for at least a decade. So why all the fussing now? For example, Fido wants me to find my K-1 statements going back many years, and send them the information. AFAIK since my UBTI is so low, there's no need to make that effort, and I would think Fido would have the necessary data anyhow.
Did the IRS change the rules? Did some partnership pay out lots of UBTI in year 2018 such that suddenly this is an issue for more people?
This has been no problem for at least a decade. So why all the fussing now? For example, Fido wants me to find my K-1 statements going back many years, and send them the information. AFAIK since my UBTI is so low, there's no need to make that effort, and I would think Fido would have the necessary data anyhow.
Did the IRS change the rules? Did some partnership pay out lots of UBTI in year 2018 such that suddenly this is an issue for more people?
