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JRT4
Returning Member

How to I report the basis of a stock sale in a traditional IRA

How to I report the basis of a stock sale in a traditional IRA

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2 Replies

How to I report the basis of a stock sale in a traditional IRA

IRAs are tax deferred investments.  Once the money is in an IRA account, you do not need to report transactions within that account.  You will be taxed on distributions from the account when you take your distributions (withdrawals from the account).

ErnieS0
Expert Alumni

How to I report the basis of a stock sale in a traditional IRA

You only have to report the withdraws from an IRA not gains or losses.

 

As community member @boso3 said, you'll be taxed on distributions.

 

The idea of an IRA is that it allows your earnings to growth tax deferred to help you save for retirement when your tax rate may be lower since you no longer work.

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