It’s the time of year when taxes are on our minds, and we may still be putting the finishing touches on 2018. To this effect, remember that your 2018 account statements are now available on your myDirection® pages. To access your statements:
We have also posted Form 1099-Rs in this same manner. However, you will only receive a Form 1099-R if you took an IRA distribution in 2018. If you did not withdraw cash or assets from your self-directed IRA last year, you will not see a Form 1099-R on your myDirection® page.
Your Form 5498—which reports the 2018 fair market value of your account as well as your 2018 contributions—will be available in May upon conclusion of the 2018 tax year. Please reference your 2018 account statement for any necessary transaction information until that time.
Also keep in mind that you may need to carry out certain actions on behalf of your account depending on your investment model:
Contact our sister company, IRA Tax Services, for assistance with UBIT or Form 1099-MISC. For more information about self-directed investing or your alternative investment options, please feel free to give us a call at 877-742-1270 or send us an e-mail at firstname.lastname@example.org.
Catherine Wynne & Bill Humphrey