In 2016 I contributed 150 dollars to a roth IRA with USAA and now It's worth $152.36. Do I have to file this as taxable income? I'm young and just starting out.

posted

Connect with an expert

1 Best answer

Accepted Solutions

In 2016 I contributed 150 dollars to a roth IRA with USAA and now It's worth $152.36. Do I have to file this as taxable income? I'm young and just starting out.

No. Earnings within an IRA are not taxable income.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

View solution in original post

1 Reply

In 2016 I contributed 150 dollars to a roth IRA with USAA and now It's worth $152.36. Do I have to file this as taxable income? I'm young and just starting out.

No. Earnings within an IRA are not taxable income.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

Still have questions?