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posted Feb 26, 2022 10:57:25 AM

Do I need to include information found on a joint IRA 1099 with my wife and me to if there wasn't a distribution? Sound I report consolidated Div, Interest, Misc info?

Do I need to report information found on a joint IRA 1099  if there wasn't any distribution? Sound I report consolidated Div, Interest, Misc information?

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1 Replies
Expert Alumni
Feb 26, 2022 11:11:29 AM

No, from an IRA you only report when you have a distribution and receive Form 1099-R. You do not report any gains or interest earnings within an IRA.

 

Please be aware, you cannot have a joint IRA. Each spouse should have their own IRA.

 

Please verify if it was an IRA or not another investment account. If it was another investment account and you received a Form 1099 then it has to be included on your tax return.

 

For example for interest a Form 1099-INT:

  1. Login to your TurboTax Account 
  2. Click on "Search" on the top right and type “1099-INT”
  3. Click on “Jump to 1099-INT”