Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 4, 2019 11:01:50 PM

I have an IRA will I receive a form?

0 1 270
1 Best answer
Expert Alumni
Jun 4, 2019 11:02:23 PM

If you took a distribution from your IRA, you will receive a Form 1099-R, and you'll need to report it on your return. 

Otherwise, you should receive an annual statement from the IRA custodian that will give you information about your contributions and the value of the IRA. You may be able to deduct your contributions to a traditional IRA. You don't have to report if you made the correct amount of Roth IRA contributions, but  it's a good idea to enter them into TurboTax to compute any tax consequences, such as the Retirement Savings Credit.

1 Replies
Expert Alumni
Jun 4, 2019 11:02:23 PM

If you took a distribution from your IRA, you will receive a Form 1099-R, and you'll need to report it on your return. 

Otherwise, you should receive an annual statement from the IRA custodian that will give you information about your contributions and the value of the IRA. You may be able to deduct your contributions to a traditional IRA. You don't have to report if you made the correct amount of Roth IRA contributions, but  it's a good idea to enter them into TurboTax to compute any tax consequences, such as the Retirement Savings Credit.