Solved: Is selling stocks and bonds the same as cashing out an IRA?

Is selling stocks and bonds the same as cashing out an IRA?

Just want to know which turbo tax to use deluxe or premiere?

posted

Generally, these are not the same transaction and you will receive different information forms to report the transactions.

The sale of securities (stocks and bonds) is reported on Form 1099-B.

IRA withdrawals are reported on Form 1099-R.

Generally, these are not the same transaction and you will receive different information forms to report the transactions.

The sale of securities (stocks and bonds) is reported on Form 1099-B.

IRA withdrawals are reported on Form 1099-R.

Is selling stocks and bonds the same as cashing out an IRA?