Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
melindapekkala
New Member

I share a Roth IRA account with my husband, we have not made any contributions or withdrawls for a few years now. Do we still need to report anything on our taxes?

We have not received a 1099 form from our Investment firm, if this helps? Not sure if we will even get one.  I know we did gain an increase in value, but it wasn't due to a new contribution, which is why I'm confused as far as reporting it or not.
1 Best answer

Accepted Solutions
Bsch4477
Level 15

I share a Roth IRA account with my husband, we have not made any contributions or withdrawls for a few years now. Do we still need to report anything on our taxes?

Nothing to report if you made no contribution or withdrawal.  I am puzzled by your reference to a shared IRA.  Each of you should have your own.

View solution in original post

3 Replies
Bsch4477
Level 15

I share a Roth IRA account with my husband, we have not made any contributions or withdrawls for a few years now. Do we still need to report anything on our taxes?

Nothing to report if you made no contribution or withdrawal.  I am puzzled by your reference to a shared IRA.  Each of you should have your own.

dmertz
Level 15

I share a Roth IRA account with my husband, we have not made any contributions or withdrawls for a few years now. Do we still need to report anything on our taxes?

As bsch4477 indicated, the Roth IRA belongs to only one of you.  There is no such thing as a 'joint' IRA.
melindapekkala
New Member

I share a Roth IRA account with my husband, we have not made any contributions or withdrawls for a few years now. Do we still need to report anything on our taxes?

Thanks. Yes I was confused, thought it was a shared account but apparently only under husband's name.
Dynamic AdsDynamic Ads
Privacy Settings
v