Bank IRA, no contributions, interest earned $46.00, do I have to claim on taxes?

posted

Connect with an expert

1 Best answer

Accepted Solutions

Bank IRA, no contributions, interest earned $46.00, do I have to claim on taxes?

No. Earnings and growth inside an IRA are not reported, as an IRA is a tax-deferred account. You only report income when you literally take out money.

View solution in original post

1 Reply

Bank IRA, no contributions, interest earned $46.00, do I have to claim on taxes?

No. Earnings and growth inside an IRA are not reported, as an IRA is a tax-deferred account. You only report income when you literally take out money.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post