Hello, I have an annuity from Southern Farm Bureau Insurance. It says it is an IRA contract type, and earned $420 dollars which was rolled over. Where does that income go into turbo tax or is it not considered income?
021613
1 Best answer
VolvoGirl
Level 15
Oct 13, 2025 3:52:17 PM
No you don’t report that. You only report distributions or withdrawals. You will get a 1099R for those. That’s one of the advantage of a IRA. You don’t report interest or dividends or buy or sells that happen. It grows tax deferred.
2 Replies
VolvoGirl
Level 15
Oct 13, 2025 3:52:17 PM
No you don’t report that. You only report distributions or withdrawals. You will get a 1099R for those. That’s one of the advantage of a IRA. You don’t report interest or dividends or buy or sells that happen. It grows tax deferred.
kittysocks
Level 2
Oct 13, 2025 4:38:01 PM
Thanks so much. I thought that was the case, but I didn't want to make a mistake.