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Author: reallyalldone Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121603  
Subject: Re: Publicly-traded partnership info - IRA Date: 2/29/2008 6:37 PM
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Be very careful. If either of you should generate more than $1000 in UBI within your IRA, the IRA will have to file a 990-T return and pay tax. Your K-1 should disclose how much UBI was generated. You might want to retain this in case of any future questions from the IRS.

I have no idea what UBI stands for. When I bought it, I thought I was just buying stock in a gas company. I have carefully looked over the K-1 and still found nothing so I'd appreciate any clues to what UBI stands for.

thanks
rad
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