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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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.
thank you...Have a great day.
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