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View Full Version : trading with normal ira money, after rollover has any effect on any tax document?



ketanco
03-02-2015, 03:35 PM
last year, I rolled over my previous employer's 401 k into a normal ira. now while i do my 2014 taxes, I showed the rollover information from 1099 R on my tax return. i took no money out, so no tax due now.

To date I never traded stocks or mutual funds etc… with that money in the new IRA. But if I start trading it doesn’t affect anything on my tax return now or later right? In fact, even if I started trading before doing my taxes now, and right after rollover was complete, it would still have no effect on what I wrote on my tax return, and I would have written the info from 1099R right?

Freelancier
03-02-2015, 03:42 PM
Correct. As long as the stocks and dividends stay within the account, you're fine. Basically, the IRS wants to know if you took any proceeds from any tax-deferred accounts before you're allowed and to pay your share of taxes on those proceeds when you do. If you didn't, don't worry about it, just keep all documentation and you're fine.