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?

posted

Connect with an expert

1 Best answer

Accepted Solutions

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.

View solution in original post

1 Reply

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.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Expert does your taxes

Do it yourself

Resources

Support

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?

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?

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?

Get more help

Do you have a TurboTax Online account?

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?

Do you have an Intuit account?

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?

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?

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert