@PattiB34 wrote:
does the same apply to 403B for nonprofit
The whole purpose of a tax-advantaged retirement account is that your contributions go in pre-tax, and you then pay income tax on whatever you withdraw. You don't pay any attention to transactions that occur within the account over the years. Increases in value are not taxes, losses are not deducted, and dividends are not taxes as long as they are reinvested within the plan. You simply pay income tax on whatever you are able to withdraw. That's true for 403(b), 401(k) and all the other alphabet plans.
(If you have a post-tax arrangement, sometimes called a "Roth 401(k) or "pre-tax 401(k)" -- or 403(b), then you don't get any tax deductions on the deposits, but you get to withdraw the money tax free once you meet eligibility requirements. And you still ignore daily or yearly gains, losses and dividends.)
Any work sponsored plans are taken care of on your W-2. You only get tax forms if you withdraw money or roll it over to another plan. Work plans are never entered again as IRAs.
