Reporting them saves you money down the road. That’s because no individual’s money is supposed to be subject to federal income tax twice. Form 8606 gets it “on the record” that a portion of the money in your IRA has already been taxed. Later on, when you take distributions, a p...
LLCs are taxed like one of the 4 existing types of business: Sole Proprietorship, Partnership, C-Corporation, & S-Corporation.