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March 13, 2021
Question

Is a 1099 or Substitute needed for an IRA Interest Income of $1.84?

  • March 13, 2021
  • 1 reply
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1 reply

macuser_22
Employee
March 13, 2021

Earnings within an IRA just increase the value of the IRA and are not reported anywhere.   That is the point of an IRA - your money can grow tax free until you take it out.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**