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Level 2
April 30, 2024
Question

IRA contributions

  • April 30, 2024
  • 1 reply
  • 5 views

Why does Pro-Connect show capital gains in an IRA acct as a "contribution".  The letter says there will be a penalty if the gain is not distributed.

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1 reply

dkh
Level 15
April 30, 2024

Can you give more details.... What letter ?   Letter from IRS ?    

What entries did you make on the tax return for this "capital gains in an IRA"  - 1099R, Sched D ?????

IRonMaN
Level 15
April 30, 2024

The devil is still in the details.

Slava Ukraini!