I sold some funds in my Traditional IRA.
I did a withdrawal and paid taxes on the withdrawal.
I received a 1099-R that showed the amount I withdrew and the taxes paid.
Entered this info on my 1040.
I then also received a 1099-R Gain/Loss Year End Summary Report that showed a LT and ST tax gain.
My question is do I include this Gain in my 2021 1040?
I did not receive any other 1099 (-R) that showed that any has or has not been reported like a
normal 1099 shows.
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Your activity ( buy/sell) is not reported for an IRA.
Such a report is for your information purposes.
I received a 1099-R that showed the amount I withdrew and the taxes paid. Taxes were withheld not "paid".
I then also received a 1099-R Gain/Loss Year End Summary Report that showed a LT and ST tax gain. There is no such 1099-R form for an IRA ... if they sent you a year end statement showing the activity in the IRA account then this is purely informational. Stock sales inside an IRA are not entered on an income tax form.
Your activity ( buy/sell) is not reported for an IRA.
Such a report is for your information purposes.
I received a 1099-R that showed the amount I withdrew and the taxes paid. Taxes were withheld not "paid".
I then also received a 1099-R Gain/Loss Year End Summary Report that showed a LT and ST tax gain. There is no such 1099-R form for an IRA ... if they sent you a year end statement showing the activity in the IRA account then this is purely informational. Stock sales inside an IRA are not entered on an income tax form.
Thanks to both of you.
Appreciated the fast response.
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