TomD8
Level 15

Investors & landlords

"Do I have to redo my taxes from 2021 if they are paying the additional amount due?

 

No.  An IRA is an exempt entity separate from the beneficial owner of the IRA and can be subject to taxation on its own.   The responsibility for paying those taxes rests with the IRA custodian.

 

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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