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What is a 990-T, for a SDIRA?
I have a note that I bought from my SDIRA and now I am finding out that I have to obtain an EIN for my self directed IRA. Can anyone explain what this is? I did not know I had to file taxes on a SDIRA and apparently my deadline is tomorrow. Can anyone advise or recommend a CPA that could help? Thank you.
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#1 New Member Introductions Contributor
- Solo 401k Expert
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Cecilia, if there is unrelated business income in an IRA - it will result in UBIT. If you have a custodial account you should be able to use your custodial's EIN.
If you just own a note in your IRA and receiving interest income - it is non-taxable, who told you that you must file form 990-T?