In 2013 I sold the MEMP that was in my IRA. I just looked at my K1 which is now available at their website and notice that box 20V has a large positive number, well over $1000. It is my understanding that the IRS requires taxes be paid on UBTI (that is over $1000) in an IRA and that this has to be done by the brokerage that holds your account and that the payment is made via funds in your IRA. I also vaguely remember reading long ago that you should first subtract values (if there are any) that are in boxes 13J and 20T1. I notice that my MEMP K1 does have values for 13J and 20T1 and that if I subract them, the UBTI falls below $1000.
Does this mean that I don't have to worry about UBTI? Can someone knowledgeable in this area please confirm this for me? Thanks.
That made my decision for me. I had sold my WR and was going to replace it with TEG...but why bother, when I can get newly issued VZA which yields 5.8-6%. VZA is an exchange traded bond issued by AT&T. I figure it is pretty safe..and since teg is essentially a bond anyway...I'd go with vza because it is also better rated.
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