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Anworth Mortgage Asset Corporation Message Board

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  • srmedusa Mar 17, 2010 11:39 PM Flag

    UBTI- why can't own in IRA

    Not true for a Roth IRA.

    "I made an error of inductive logic myself when discussing MLPs in Roth accounts. In my experience, spanning nearly 40 years and 20 or 25 MLPs, I’ve never had a client hit the upper limit of $1000 of Unrelated Business Taxable Income (UBTI). But we all need to know that it “could” happen. Having discussed it this week with 2 CPAs and 3 MLPs, I can report that all that will happen is your CPA or tax prep software will advise that you need to pay taxes on the amount received if you exceed $1000 in UBTI in any given year. The reader who said they had read that if you made over a $1000 a year in UBTI, “you could lose the Roth IRA status and have to pay taxes on your whole account!” was misinformed by someone masquerading as knowledgeable. Your Roth is secure. "

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