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wjstults
New Member

Capital Gains on IRA

I received monthly distributions from an IRA account in 2018. I received a 1099-R for this account and entered all taxable income into TurboTax. I also received a 1099-B and 1099-DIV for the same IRA. Since I declared all income from this account and it is all taxable do I still need to enter capital gains from form 1099-B and 1099-DIV? If I do it seems to me that I am paying taxes twice on the same money.

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1 Reply

Capital Gains on IRA

suggest discussing this with your financial institution and inquiring why they sent you the 1099B and 1099-Div...... are you sure there isn't another account that is causing these forms to be issued?  The IRS is going to be expecting you to report the income on these forms, so best to straighten it out with the financial institution now. 

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