I have owned real estate in my self-directed ira for 8 years and have followed all the rules for only taking distributions via my self-directed ira administrator. This year for the first time the property manager's accountant has issued a 1099-misc for rental income sent to my ira which I have deposited in the IRA's bank account. I am concerned about being taxed twice - on the amount sent to my IRA and again on actual distributions through my administrator which generate a second 1099. Can I disregard the 1099-misc? If not, what should I do with it?
