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Do i need to report an ira balance on my return?
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June 6, 2019
4:36 AM
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Retirement tax questions
No, a balance within an IRA may fluctuate with the market, but unless you've actually taken a distribution from the account, then there's nothing you're required to report.
If you take a distribution during the year, then you'll be issued a Form 1099-R showing the amount, and that's something you'll need to enter in TurboTax.
Also, if you've made contributions to a Traditional IRA or Roth IRA, then you'll enter those contributions under Federal Taxes > Deductions & Credits > Retirement and Investments > Traditional & Roth IRA Contributions.
June 6, 2019
4:36 AM