354417
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I cashed out a small accounts IRA in 2016 for roughly $2200 to pay off some student loan debt. Where/how do I best report this on my tax forms? Thank you.

Should I receive a 1099S or similar form from the financial institution that held my IRA account?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
AnnetteB
Intuit Alumni

I cashed out a small accounts IRA in 2016 for roughly $2200 to pay off some student loan debt. Where/how do I best report this on my tax forms? Thank you.

Yes, you should have received a Form 1099-R for each distribution from an IRA.

You should contact the financial company holding the IRA accounts for a copy of the Form 1099-R so that you can include it with your 2016 return if the distributions were done in 2016. 


View solution in original post

1 Reply
AnnetteB
Intuit Alumni

I cashed out a small accounts IRA in 2016 for roughly $2200 to pay off some student loan debt. Where/how do I best report this on my tax forms? Thank you.

Yes, you should have received a Form 1099-R for each distribution from an IRA.

You should contact the financial company holding the IRA accounts for a copy of the Form 1099-R so that you can include it with your 2016 return if the distributions were done in 2016. 


Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question