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E
elvisinva
March 12, 2021
Question

1099-B differernces

  • March 12, 2021
  • 1 reply
  • 0 views

I have an IRA and individual account with Fidelity. Each has a long term transaction. One is reported to the IRS, the other is not. What do I have to report to the IRS?

1 reply

M
MinhT1
March 12, 2021

You do not report any transactions in your IRA account. All income within the IRA is tax-deferred.

 

You have to report the transaction on your individual account.

 

You can enter your form 1099-B by following these steps:

  1. In TurboTax, open your tax return
  2. Click on Federal in the left-hand column, then on Wages & Income on top of the screen
  3. Scroll down to All Income, locate the section Investment Income and click on Show more
  4. Click Start next to Stocks, Mutual Funds, Bonds, Other
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