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clarisch
New Member

I thought 401Ks and IRAs grew tax-free until you withdrew. Why do I have to pay capital gains that are within my 401Ks and IRAs in the current tax year?

 
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DoninGA
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

I thought 401Ks and IRAs grew tax-free until you withdrew. Why do I have to pay capital gains that are within my 401Ks and IRAs in the current tax year?

Did you receive a Form 1099-R for a distribution from the tax deferred retirement account?  If not, then nothing is reported on a tax return concerning sales within the account.

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1 Reply
DoninGA
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

I thought 401Ks and IRAs grew tax-free until you withdrew. Why do I have to pay capital gains that are within my 401Ks and IRAs in the current tax year?

Did you receive a Form 1099-R for a distribution from the tax deferred retirement account?  If not, then nothing is reported on a tax return concerning sales within the account.

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