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New Member
posted Jun 3, 2019 1:04:00 PM

Where do i put my 2016 ira interest information

0 1 401
1 Best answer
New Member
Jun 3, 2019 1:04:01 PM

You don't need to.

Gains and losses, interest, and dividends within retirement accounts are tax-deferred, meaning that they remain untaxed and unreported until you withdraw money.   It's taxed on the way out. You should receive a 1099-R for this purpose when you withdraw.

The opposite is true for regular brokerage accounts, which is why they send out 1099-B, 1099-INT, and 1099-DIV.

1 Replies
New Member
Jun 3, 2019 1:04:01 PM

You don't need to.

Gains and losses, interest, and dividends within retirement accounts are tax-deferred, meaning that they remain untaxed and unreported until you withdraw money.   It's taxed on the way out. You should receive a 1099-R for this purpose when you withdraw.

The opposite is true for regular brokerage accounts, which is why they send out 1099-B, 1099-INT, and 1099-DIV.