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OK, so while I am aware that id total UBI in my IRA exceeds $1,000, I'll owe a special tax.
However, I just received a letter from Schwab (my IRA custodian) saying that if my total UBI in my IRA is negative, they'll track it for me so that the loss can offset future UBI to prevent or minimize exceeding the $1,000 magic threshold.
My question is, is this a new rule? Or should I be digging out all my old K-1s and sending them in to Schwab to build up this loss for future use. I've been fortunate (?) that my total UBI in my IRA has been negative each year.
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