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Do I need to report anything from an investment account or retirement account if nothing was withdrawn or cashed out?

 
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2 Replies
toakley01
New Member

Do I need to report anything from an investment account or retirement account if nothing was withdrawn or cashed out?

If you didn't have any withdrawals from your retirement account, then you generally don't have to report anything.  However, on the investment account side, if it's not a retirement account, you will need to report capital gains, dividends, etc. on your taxes.  You should get a statement from your brokerage every January/February with this information.  Often, TurboTax can download it directly from the brokerage.

Do I need to report anything from an investment account or retirement account if nothing was withdrawn or cashed out?

There is no tax liability for any transaction within a retirement account.  For a non-retirement account you would have to report any dividends, interest or capital gains income generated.

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