Thank you both for your input. I have checked the K-1 form and there is a Box 20 with three letter designations (A, V, & W). Through my TurboTax, I have determined that the "V" in this box is the "Unrelated Business Income" line that you speak of. Fortunately, that is presently a negative number, so I gather it is safe for me to leave all this off my 2006 return.Phil,I am sorry, but I do not know if your question is directed to me, or to Irasmilo (the first person to reply), and I do not understand your reference to "OP". If it is any help, the 401K in my company has a Trustee, and the K-1 I received was sent to the Trustee FBO (For the Benefit Of) me, at my mailing address, where I get all my statements.I wonder if I need to communicate with EPD to advise of this situation, or if it is better to just let sleeping dogs lie.I do remember reading how this investment was different than owning a typical equity, but I sure don't remember reading anything about my little issue. I gather it is not an everyday occurance for this kind of stock to be residing within a 401-K? I guess most 401-K's have nothing but mutual funds, but when I started with my current company, I insisted on the creation of a 401-K that could be self directed. For the past 12 years I have bought and sold nothing but individual stocks (and one LP by the name of EPD) in my 401-K, and this is the first time I have ever received anything to report on my yearly return.At whatever point in the distant future I decide to sell my EPD holdings in my 401-K, I wonder if I will have any special reporting requirements? I could understand having the problem at the time of distribution (which is far,far away), but what if I sell prior to any distribution?Thanks again for your combined input.- Willy -
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