Skip to main content
February 13, 2025
Question

Where do i post info on a 1099R an IRA with no payments made and no distribution taken.. Just paid interest for the year?

  • February 13, 2025
  • 3 replies
  • 0 views
No text available

    3 replies

    February 13, 2025

    You do not need to report anything on your tax return with regard to interest earned within the IRA account.  It is only reported on your return when a distribution is taken out or when you have made additional contributions.

     

     

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
    VolvoGirl
    Employee
    February 13, 2025

    Did you get a 1099R for something?  You don't report any interest or dividends, buys or sells, or any transactions inside the IRA.  You only get a 1099R and report  Distributions, withdrawals, rollovers or conversions to another account or if you didn't pay back a loan from it.  

     

    Employee
    February 13, 2025

    If you received a Form 1099-R, you received a distribution that needs to be reported on your tax return.  What was done with that distribution determines the tax treatment applied to that distribution.

     

    Did you receive a Form 1099-R?

    If so, what is the code in box 7 of this Form 1099-R and is the IRA/SEP/SIMPLE box marked?

    VolvoGirl
    Employee
    February 13, 2025

    @dmertz     I updated today and it doesn't look like they fixed the 1099R RMD process yet.