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You will pay taxes when money is withdrawn from the account. Then you will be issued a 1099R.
Depending on the age of your sister when you got this account, some money may need to be withdrawn each year. So talk to the financial advisor with the account, so that gets taken care of if needed.
You will pay taxes when money is withdrawn from the account. Then you will be issued a 1099R.
Depending on the age of your sister when you got this account, some money may need to be withdrawn each year. So talk to the financial advisor with the account, so that gets taken care of if needed.
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