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New Member
posted Jun 6, 2019 12:40:36 AM

I have money in a traditional IRA. Do I need to pay any tax on that money for 2018? I just turned 65 in 2018 and did not take any distributions.

I have money in a traditional IRA. Do I need to pay any tax on that money for 2018? I just turned 65 in 2018 and did not take any distributions.

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1 Replies
Level 15
Jun 6, 2019 12:40:38 AM

If you did not take any distributions for tax year 2018, you do not need to enter anything on the tax return.  What happens inside the IRA does not impact your taxes, only when you take money out.

You do not need to take distributions until you turn 70 1/2 (and there are some rules for first year).