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June 1, 2019
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I rolled some money to my banks IRA, the form I received doesn't have tax IDs...etc so I don't claim the interest until I take money out of this account, correct?

  • June 1, 2019
  • 1 reply
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Do I claim interest earned on an IRA
Best answer by Coleen3

Income grows tax free in an IRA. You do not report any yearly interest until you receive distributions. Everything will be included together in the distribution at the same time.

1 reply

Coleen3Answer
Employee
June 1, 2019

Income grows tax free in an IRA. You do not report any yearly interest until you receive distributions. Everything will be included together in the distribution at the same time.