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Question

IRA Dividends & Capital Gains Reinvested

Forum|Forum|5 years ago
March 6, 2021
1 reply
0 views

We did not receive a 1099-DIV from PFS Investments. We called and they only gave us the ending value as of 12/31/20. How do I report this?

TurboTax Home & Biz Windows

You don't need to report that on your tax return and you don't need to pay any taxes now on dividends that are reinvested in either a Roth IRA or traditional IRA and left in that account. Dividends and capital gains distributions within a retirement account are not considered as income and are not taxable until withdrawn.

I have stock in a company. The 1099 shows a capital gain distribution but this distribution was returned because it was supposed to be reinvested not distributed. This occurred when the company was merged with another company and we finally got it straightened out with that company. How do we handle this?

if there was a distribution, whether it was provided in cash or reinvested, it's taxable income to you