I am hoping someone can help me with this...
I purchased shares of Enterprise Products Partners L.P. and hold them in my 401K account. I believe all stock dividend and interest income held within a 401K is not taxed until distibutions are made. Further, I do not believe that gains or losses are noteworthy until the time of distribution.
I am puzzled, because I received a Form 1065 K1 from EPD, and I don't know what to do with it. Do I ignore it because it resides in my 401K, or do I report it?
Thank you for your help!

Basically, you can ignore it. However, there is a catch. There should be an entry on the K-1 labeled "Unrelated Business Income". If that number exceeds $1000 in any year from all of your 401(k) investments, your 401(k) will have to file a 990 Tax Return.

Ira