Contact UsI have an IRA that I took money out of last year for an investment. Do I need to pay taxes on it?
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Tax Professional Answers
Wray Rives CPA CGMA
Yes generally money you withdraw from an IRA is taxable in the year you receive the distribution. You should receive a Form 1099R from your account custodian reporting the taxable about of the distributions you received.
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559 weeks ago