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dlimpp
New Member

If I have a 1099-R for selling stock from my 401K at 70 1/2, how do I show capital gains without receiving a 1099-B form?

We are over 70 1/2 and sold stock from our 401K that was reported on our 1099-R.  How do we go about reporting capital gains on that stock that was sold?  Is that necessary?  We only received the 1099-R and not a 1099-B from at all.

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ChristieB
New Member

If I have a 1099-R for selling stock from my 401K at 70 1/2, how do I show capital gains without receiving a 1099-B form?

Transactions that are made inside the retirement account are not reported on your personal return, so selling stock inside your 401(k) would not be reported. One of the advantages of a retirement account such as yours is that your money grows tax-free.

Only distributions from your 401(k) would be reported, and this is what is reflected on your 1099-R. 

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2 Replies
ChristieB
New Member

If I have a 1099-R for selling stock from my 401K at 70 1/2, how do I show capital gains without receiving a 1099-B form?

Transactions that are made inside the retirement account are not reported on your personal return, so selling stock inside your 401(k) would not be reported. One of the advantages of a retirement account such as yours is that your money grows tax-free.

Only distributions from your 401(k) would be reported, and this is what is reflected on your 1099-R. 

VolvoGirl
Level 15

If I have a 1099-R for selling stock from my 401K at 70 1/2, how do I show capital gains without receiving a 1099-B form?

The 1099R must be for the RMD you had to take out.  One disadvantage of 401K or IRA accounts is the distributions are taxed as ordinary income and you don't get capital gains treatment for the sales.  
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