Do I Get a 1099-R for a Roth IRA? | Sapling
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Do I Get a 1099-R for a Roth IRA? | Sapling
Your financial institution should send you a Roth IRA 1099-R in each tax year that you take a distribution from your account. The form shows how much you withdrew and how much is taxable. If you only made contributions and no withdrawals in a given tax year, you receive Form 5498 instead.
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Goldstone Financial Group on Instagram: "If you took money out of a retirement account last year, this is a form you’ll want to recognize. In this clip, Aristotle Makris, Senior Tax Planner at Goldstone Financial Group, CPA, CFP®, MS, explains what information appears on a 1099-R and why understanding distributions, taxable amounts, and withholdings matters when preparing your taxes. 🎥 The 1099-R is just one of several forms retirees receive. In our full Ask an Advisor video, “What Tax Forms Wi
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