Solved

If shares of stocks are sold within managed accounts of my IRA, how or do I have to try to figure those out for tax purposes?

Forum|Forum|7 years ago
June 3, 2019
1 reply
0 views

No text available

TurboTax Deluxe Windows

Best answer by DanielV01

You don't have to do anything with this. One of the benefits of an IRA is that growth on an IRA is tax-deferred, which means you do not have to report the activity within the IRA that is producing the growth. Instead, you report distributions from the IRA account. The taxability of the distribution is determined when you receive it and report it into income. But even then, the growth (investment activity or otherwise), will not have to be reported on your personal tax return.

DanielV01Answer

Employee

You don't have to do anything with this. One of the benefits of an IRA is that growth on an IRA is tax-deferred, which means you do not have to report the activity within the IRA that is producing the growth. Instead, you report distributions from the IRA account. The taxability of the distribution is determined when you receive it and report it into income. But even then, the growth (investment activity or otherwise), will not have to be reported on your personal tax return.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"