K-1's from an IRA partnership entity

[bumpo]

Client has received multiple K-1's from partnerships identified as IRA/SEP/KEOGH. The partners identifying number on the K-1 is not the SSN of the client but an EIN. Does the client need to report the K-1 info on his return in spite of this discrepancy? My software assumes the partners ID is his SSN. Thanks in advance for any help.

bumpo

[Burke]

It's not a discrepancy. You do not report K-1's on the taxpayers' return for an IRA account. It goes to the custodian.

[luke]

had same

had a couple of those and assumed that the taxpayer had a self-directed IRA - did NOT include K1 info on personal return (or anywhere)!