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?

510

1 Best answer

Intuit Alumni

Jun 3, 2019 1:43:28 PM

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.

Intuit Alumni

Jun 3, 2019 1:43:28 PM

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.

Why sign in to the Community?

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.