Question

Reporting foreign provident fund grow in turbotax

I have foreign provident fund that probably meet 402(b) criteria. The only activity in the fund is fund grow (no contributions or distribution).

How should I report this fund in TurboTax?

No. Your earnings within the fund is not taxable unless you receive a distribution or make a contribution to the fund.

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warkAuthor

I must report it due to 402(b)(4) requirement, so there is no tax deferral, even if funds have not yet been distributed or made available.

1 reply