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retirement ira tax questions

my sister has a capital group  American funds retirement account. In the year end statement there are capital gains and dividend amounts reported but no 1099-div or any other tax form has been received.

She took nothing out of the account. Does she need to report anything on this account on her income tax ? or does she need to contact capital group for info ?  thanks in advance 

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2 Replies

retirement ira tax questions

You do not report activity in a IRA or 401K Accounts.  You only report withdrawals, distributions, Rollovers, transfers.  You will get a 1099R for those.  That's the benefit of IRA accounts, they grow tax deferred.  You don't pay tax until you take it out.

retirement ira tax questions

thank you...Have a great day.

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