990 T - SD IRA - When to file?

[Glenn Hirsh]

Recently received my first K-1 from an SD-IRA syndication investment where I am considered a Limited Partner in a multifamily property in NC.

It shows a negative amount per the depreciation taken against a relatively small amount of distributions, given at 6%.

My CPA has said that the 990-T is not required at this juncture since there is no tax due.

My other recent research has shown that a 990T should be filed every year as to accrue any losses to offset future gains.

Have to assume this is a common scenario.  Any guidance is appreciated.

[Brian Eastman]

@Glenn Hirsh

@Carl Fischer is right. If the loss is of a decent amount, then it is worth filing. Sometimes the cost of having your CPA prepare the return and having your IRA custodian sign and send it to the IRS costs as much or more as the loss, in which case it would not be worth the effort.