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barbie838
New Member

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

 
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ChristinaS
Expert Alumni

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

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.

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ChristinaS
Expert Alumni

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

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.

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