topic Interst income statement from a N1 liqidation trust that is within an IRA account. in Deductions & credits

Interst income statement from a N1 liqidation trust that is within an IRA account.

hgjeffer — Fri, 03 Apr 2020 23:40:02 GMT

Do I need to report this interest on line 2b of Form 1040 and on Schedule B

Re: Interst income statement from a N1 liqidation trust that is within an IRA account.

DaveF1006 — Mon, 06 Apr 2020 02:41:18 GMT

Report this in as interest income.

federal
income expenses
interest and dividends
interest on 1099 INT

Re: Interst income statement from a N1 liqidation trust that is within an IRA account.

hgjeffer — Mon, 06 Apr 2020 12:57:38 GMT

I do not understand why I need to report it as interest that is in an IRA. If I had drawn the money out I would have paid regular income tax.

Re: Interst income statement from a N1 liqidation trust that is within an IRA account.

JohnB5677 — Mon, 06 Apr 2020 17:33:35 GMT

I agree that it should not be taxed. What form did you get? Who is the Payee? Does it say something like (Your Name) and something to do with the IRA?