Capital gains tax on 403B withdrawal?

brendagamm
brendagamm Member Posts: 1 Newcomer
edited May 7 in Filing my taxes

Do I have to pay capital gains tax on a withdrawal from my 403B at age 60? Will the investment company send me a form telling me how much was capital gains?

Tagged:

Comments

  • AlexO
    AlexO FreeTaxUSA Agent Posts: 103 image

    Hello, bredagamm!

    That is a great question. Withdrawals from retirement accounts are not taxed as capital gains/losses. Instead, it is taxed as ordinary income. The custodian of your retirement account will send you a Form 1099-R to report your withdrawal when you file your tax return.

Categories