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K-1 Partner is IRA custodain

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    K-1 Partner is IRA custodain

    Client received several partnership K-1's indicating the partner is an Roth IRA. Box 11 checked on the K-1. ( Schawb as custodian)
    Are these K-1's reported on the client's 1040?

    TIA for your help

    #2
    If the title is the name of the IRA and not the name of your client, then the K-1s do not go on his 1040. They go on the return of the IRA, if it is required to file a return, due to unrelated business income (is that the phrase?). His plan administrator may file the return; but if he manages his own plan, he may be asking you to file! Check with him and his administrator.

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