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socrateaser, Lawyer
Category: Tax
Satisfied Customers: 38892
Experience:  Retired (mostly)
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I am a retired person, does the interest earned in 2012 on

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I am a retired person, does the interest earned in 2012 on my Roth & regular IRA accounts need to be included as interest on my tax return for year 2012?

No tax is due on any dividend, interest or gain from a Traditional IRA until a distribution of assets is taken -- at which time the distribution is taxable as ordinary income and reported on IRS Form 1040, Line 15a. There is no tax due on any distribution from a Roth IRA account.

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