Can anyone tell me the pitfalls of getting a K1 statement? I don't think I have any concerns since the K1 tthat I recently received was from investement in my Roth IRA account. Should I be concerned?
Thanks in advance!
Anything held in roth or traditional iras don't have any tax implications until you withdraw from ira. So if you get a complicated K-1 on shares in your IRA simply file it away. I went on BX website and entered unit holder info and did NOT have any info listed there for me. BTW, I own my BX shares in an IRA as well. Also makes taxable divy reporting basis tracking n/a.