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January 1, 2025
Question

if i took a withdrawal from a Simple IRA, is that considered selling stocks, bonds, mutual funds, etc?

  • January 1, 2025
  • 1 reply
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    1 reply

    DoninGA
    Employee
    January 1, 2025

    That is an IRA distribution.  You will receive a Form 1099-R from the plan administrator in January 2025 for a distribution in 2024.

     

    To enter, edit or delete a form 1099-R -

    Click on Federal Taxes (Personal using Home and Business)
    Click on Wages and Income (Personal Income using Home and Business)
    Click on I'll choose what I work on (if shown)
    Scroll down to Retirement Plans and Social Security
    On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button