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New Member
posted Jun 3, 2019 11:39:53 AM

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

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1 Best answer
Expert Alumni
Jun 3, 2019 11:39:54 AM

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 Replies
Expert Alumni
Jun 3, 2019 11:39:54 AM

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.