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March 29, 2025
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How do I update my 1099b to show capital gains on an IRA?

  • March 29, 2025
  • 1 reply
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1099B IRA
    Best answer by VolvoGirl

    You don't report sales or gains/losses in a IRA.  You do not get a 1099B for IRA accounts.  You only report contributions and withdrawals, rollovers or conversions from a IRA.  You will get a 1099R for those.  That's the advantage of IRA, you do not report transactions, interest, dividends or gains inside a IRA.  

    1 reply

    VolvoGirl
    VolvoGirlAnswer
    Employee
    March 29, 2025

    You don't report sales or gains/losses in a IRA.  You do not get a 1099B for IRA accounts.  You only report contributions and withdrawals, rollovers or conversions from a IRA.  You will get a 1099R for those.  That's the advantage of IRA, you do not report transactions, interest, dividends or gains inside a IRA.