I have IRA property,got a 1099MISC. Being an IRA it should be tax free. I now get RMDs(11% Fed and 6% St taxes being withheld) which show up on my 1099s as income. Yes?

IRA rental property should not need a 1099MISC showing rental funds as these funds stay within the Trust Co account FBO myself. I have a 30% interest in a second IRA property that I received a 1099MISC for rents as well.

The first property was sold in 2018 and I am drawing RMDs (taxes withheld) from this distribution as income (1099-R). I see no reason to receive a 1099MISC for IRA property. All funds from both properties are held by Trust Co in one account.

As it is April 15 (and unlikely to get answer in time) I will ignore the 1099MISCs as being nothing more than informational only. I hope this is correct.

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1 Best answer

Level 15

Jun 1, 2019 10:14:17 AM

If rental property is held inside a IRA, then the 1099Misc does not get reported on your return.

Only your 1099R shows on your return from the IRA..

Level 15

Jun 1, 2019 10:14:17 AM

If rental property is held inside a IRA, then the 1099Misc does not get reported on your return.

Only your 1099R shows on your return from the IRA..

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I have IRA property,got a 1099MISC. Being an IRA it should be tax free. I now get RMDs(11% Fed and 6% St taxes being withheld) which show up on my 1099s as income. Yes?