Ira K1

[Donanita]

Client received a k1 from a IRA account.Said he didn't draw anything out. Shows a 2000 loss as ordinary income. Can the loss be used or ingore the k1 since no money was withdrawn

[JSLATER]

Client received a k1 from a IRA account.Said he didn't draw anything out. Shows a 2000 loss as ordinary income. Can the loss be used or ingore the k1 since no money was withdrawn

Since it is in an IRA, you have to ignore it.

[KBTS]

Does this help?

http://www.thetaxbook.com/forums/showthread.php?t=14589

[Burke]

Tell me how you do that, KBTS. Import the link, I mean.

[KBTS]

Tell me how you do that, KBTS. Import the link, I mean.

I open a new tab in Firefox and search to find the discussion I need. Once I find it and click on the link to open the page, I copy the address from the address bar at the top of the browser (highlight the address, right click and choose "copy"). Then I go back to the other tab, click "Post Reply", and then right click and choose "paste" where I want to enter the link.

It's lots tougher to describe than it is to do. Give it a try and then choose "Preview Post" to see if it worked. That way, you can test it out before actually posting.

[Donanita]

Yes,thanks so much

[ ]Does this help?

http://www.thetaxbook.com/forums/showthread.php?t=14589[/QUOTE]