dmertz
Level 15

Retirement tax questions

Since you received a Form 1099-B, what apparently happened is a sale of the stock in your brokerage account, a regular contributions of cash to the IRAs using the proceeds of the stock sale, then perhaps a repurchase of the stock inside the IRAs.  Under these circumstances, if you had a loss on the sale of the stock and  repurchased substantially identical shares were repurchased in the IRAs within 30 days, you created a wash sale and the capital loss can never be realized because the repurchase was in an IRA.

 

Assuming that what I suggested is what actually happened, yes, you would report the cash amount contributed to each IRA as a regular contribution.  The stock sale reported on the Form 1099-B also needs to be reported on your tax return.