BillM223
Expert Alumni

Retirement tax questions

What is TurboTax asking in terms of Capital Gains? You don't pay capitals gains on either traditional IRA distributions or Roth IRA distributions. In the former case, you pay ordinary income tax rates and in the latter case, you don't pay any income tax at all so long as the distribution was qualified.

 

Oh, you are referring to box 3 on the 1099-R. Is there a number in it? There shouldn't be. Just enter the 1099-R as is.

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