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New Member
posted Feb 13, 2025 7:43:38 AM

Where do i post info on a 1099R an IRA with no payments made and no distribution taken.. Just paid interest for the year?

0 4 940
4 Replies
Expert Alumni
Feb 13, 2025 8:18:23 AM

You do not need to report anything on your tax return with regard to interest earned within the IRA account.  It is only reported on your return when a distribution is taken out or when you have made additional contributions.

 

 

Level 15
Feb 13, 2025 9:52:07 AM

Did you get a 1099R for something?  You don't report any interest or dividends, buys or sells, or any transactions inside the IRA.  You only get a 1099R and report  Distributions, withdrawals, rollovers or conversions to another account or if you didn't pay back a loan from it.  

 

Level 15
Feb 13, 2025 10:02:36 AM

If you received a Form 1099-R, you received a distribution that needs to be reported on your tax return.  What was done with that distribution determines the tax treatment applied to that distribution.

 

Did you receive a Form 1099-R?

If so, what is the code in box 7 of this Form 1099-R and is the IRA/SEP/SIMPLE box marked?

Level 15
Feb 13, 2025 10:21:21 AM

@dmertz     I updated today and it doesn't look like they fixed the 1099R RMD process yet.