Investors who have held Apple REITs in IRA accounts custodied by David Lerner & Associates accounts should contact us to discuss claims against the firm, Apple REITs and others for overvaluing their investments.
Every year, IRA custodians are required to calculate the value of investment held in IRA accounts. They must do so in a reasonable manner and cannot simply rely upon purchase price. That value then is reported to the IRS, which then calculates what the RMD (Required Minimum Distribution) is for individuals older than 70 ½. Taxes must be paid on that distribution.
So, when a non-traded REIT custodian overvalues those assets, IRA investors pay more taxes than necessary by virtue of their receiving higher than necessary Required Minimum Distributions.
Please contact us to discuss these and other claims.
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