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If no 1099-INT was received because no interest was generated. The money was rolled over then rolled out to checking with-in minutes?

Money was rolled into an IRA then immediately cashed in and transferred to her checking account. No interest was generated
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1 Reply
ColeenD3
Expert Alumni

If no 1099-INT was received because no interest was generated. The money was rolled over then rolled out to checking with-in minutes?

If you have no interest, then you have no interest. However, you cashed out your IRA and will receive a 1099-R for the distribution.

 

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