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Fees to pay managed IRA accounts are sometimes taken out of that IRA account, and is common practice. This does not show up on corresponding 1099R. Only RMD's show up on 1099Rs, not managed account fees, so where do you enter extra pre taxed money in turbo tax?
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Management fees taken from the IRA are not a distribution from the IRA and are not reported on Form 1099-R or on your tax return. They simply reduce the balance in your IRA.
Management fees taken from the IRA are not a distribution from the IRA and are not reported on Form 1099-R or on your tax return. They simply reduce the balance in your IRA.
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