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srok09
New Member

Report interest income for SEP-IRA?

I have a SEP-IRA account that my employer contributes to (I am not self-employed). I did not receive any tax documents from the bank but also, very little interest was made. Does this interest need to be reported on the Wages & Income > 1099-INT Interest Income section?
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RichardG
New Member

Report interest income for SEP-IRA?

No.  Your SEP-IRA account is a separate, tax-exempt, taxpayer.  You do not report income earned by the IRA on your personal tax return.  The only thing you'll ever report on your return is distributions from the account.

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1 Reply
RichardG
New Member

Report interest income for SEP-IRA?

No.  Your SEP-IRA account is a separate, tax-exempt, taxpayer.  You do not report income earned by the IRA on your personal tax return.  The only thing you'll ever report on your return is distributions from the account.

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