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March 5, 2020
Solved

Are withdrawals from an after tax investment fund considered income? ( I don't mean div or int income(.

  • March 5, 2020
  • 1 reply
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There were no sales of stock in the investment fund. Could the withdrawals be considered nontax income from the principle?
Best answer by rpeebee

Taking out  money from earlier deposited principal amount is not taxable event. Only generated income or any profit needs to be reported.

You will get 1099 tax statement for taxable event from financial institution.

1 reply

rpeebeeAnswer
March 5, 2020

Taking out  money from earlier deposited principal amount is not taxable event. Only generated income or any profit needs to be reported.

You will get 1099 tax statement for taxable event from financial institution.