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.
You'll need to sign in or create an account to connect with an expert.
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.
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.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
bfordmn
New Member
irs2018ttax
New Member
d4jesus2017
New Member
bettydom74
New Member
db82e1acdf5b
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.