Reporting of Investments - After filing of Taxes

Forum|Forum|2 years ago
April 11, 2024
1 reply
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First year I've filed taxes in 40 years (my wife always did the taxes before) - so newbie question.

I filed my federal and state taxes yesterday using TurboTax Deluxe. I didn't think I had to file a Schedule D since I hadn't sold off any assets from my 401 and IRA accounts in 2023. But I guess I need to report them regardless. How do I file an amended tax return for these accounts using TurboTax? Is there anything special I need to do or know before doing so? And is it safe to say that it won't effect my reported taxes since I didn't realize any true income during the year - just capital gains.

Best answer by VolvoGirl

You don't report sales, dividends, capital gains or any transactions inside of 401k or IRA accounts. Only distributions or rollovers. Did you get a 1099B for something?

VolvoGirlAnswer

Employee

You don't report sales, dividends, capital gains or any transactions inside of 401k or IRA accounts. Only distributions or rollovers. Did you get a 1099B for something?

WHEREAMIAuthor

No. Didn't get anything for them. And when I logged into my investment portfolio before filing, I didn't find any forms. So I guess your answer confirms what I originally thought. Thanks for the quick response.