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BenefitsLink Message Boards > Retirement Plans > IRAs and Roth IRAs

Dawn Thomas

Mar 10 2001, 06:53 PM

I opened a Roth IRA in Jan. 2000. Do I have to report interest made on it to the IRS on my federal tax return?

BPickerCPA

Mar 10 2001, 07:37 PM

No.

John G

Mar 11 2001, 05:20 PM

And, no reporting of capital gains. The concept of long term vs short term capital gains has no meaning within a Roth since there are no tax consequences. Keep records for your own purposes since buy/sell transactions are not reported on your tax return.

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