How to report on IRA investments not on a 1099

Red_Guitars1
Red_Guitars1 Member Posts: 2 Newcomer
in Retirement Income

thanks. I can’t figure it out.

Comments

  • kiarab
    kiarab FreeTaxUSA Agent Posts: 263 image
    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
    Red_Guitars1 Member Posts: 2 Newcomer

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

  • TaxMorgan
    TaxMorgan FreeTaxUSA Agent Posts: 104 image
    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.

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