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Level 1
June 3, 2019
Solved

Bank IRA, no contributions, interest earned $46.00, do I have to claim on taxes?

  • June 3, 2019
  • 1 reply
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Best answer by ChristinaS

No. Earnings and growth inside an IRA are not reported, as an IRA is a tax-deferred account. You only report income when you literally take out money.

1 reply

Level 10
June 3, 2019

No. Earnings and growth inside an IRA are not reported, as an IRA is a tax-deferred account. You only report income when you literally take out money.