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Get your taxes done using TurboTax
No. You do not report sales, interest, dividends,gains, losses or any transactions inside the IRA or 401K accounts. You only report distributions, Rollovers, Transfers, conversions that you get a 1099R for. That's one of the benefits of using an IRA or 401K Account. It grows tax deferred. Then when you take it out you pay ordinary income tax on it. But you don't get the lower capital gains tax on it.
‎October 11, 2023
2:20 PM
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