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How to report on IRA investments not on a 1099

Red_Guitars1

thanks. I can’t figure it out.

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kiarab

Hello Red_Guitars1,

Generally, with an IRA, you would only get a 1099-R if you had a distribution of some sort.

You mentioned investments, so did you contribute (or put money into) an IRA instead of taking a distribution (taking money out)? If so, you would report it by going to Deductions / Credits -> IRA Contributions. If it is greyed out in our software, you haven't unlocked that section yet so you will need to continue with your tax return.

Red_Guitars1

what if I did neither contribution or distribution? What about the earned interest? Thanks.

TaxMorgan

Hello Red_Guitars 1,

If you did not contribute to or take a distribution from your IRA, then there would be nothing to report on your tax return. Earnings stay in the account and are generally not taxed until distributed.