Wife received income from investments that rolled over into the same traditional IRA, yet it reports on TurboTax as taxable income. How can I deduct this income since it was a rollover, not a distribution to her?
02407
2 Replies
MinhT1
Expert Alumni
Mar 1, 2023 1:30:56 PM
If this is a form 1099-DIV issued in the name of your IRA, you do not report it on your personal tax return.
Earnings in IRA accounts are not taxed.
If you entered that form 1099-DIV on your tax return, please delete it.
Mike9241
Level 15
Mar 11, 2023 9:53:39 AM
the 1099-Div should have a different SSN/EIN than your own.