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

 
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4 Replies
AnnetteB6
Employee Tax Expert

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

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.

 

 

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

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.  

 

dmertz
Level 15

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

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?

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

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

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