Can I file taxes before I get this form?

January 18, 2018 8:46 AM

I need to file asap because of identity theft. I have my W2, but haven't gotten a tax form from an IRA yet. I didn't take any money out of it, but don't really understand how it works- if there was a "dividends reinvestment" and capital gains reinvestment, do I need to report that somehow? It's a very small account.
posted by pinochiette to Work & Money (6 answers total)

Best answer: If you deposited money into your IRA, you may need to report that on your taxes, but you don't need to wait for a form to do that, you can just enter how much was deposited.

If you took money out that would also need to be reported, again I don't think you need to wait for a form.

Transactions that happen entirely within the IRA - buying shares with money already deposited into the ira, selling shares, reinvesting dividends and capital gains - do not have to be reported on your taxes at all.
posted by muddgirl at 8:50 AM on January 18, 2018 [3 favorites]

Best answer: If you really feel you are in a hurry, file your 1040 now. If, when you get additional forms, it appears you made a mistake, you can file a 1040X. They're not awful.
posted by ubiquity at 8:59 AM on January 18, 2018 [4 favorites]

Yeah, file now and amend later if necessary.
posted by mskyle at 9:06 AM on January 18, 2018

Sounds like you can go ahead and file.

As said above, if you contributed, you will report that (but you don't need a form).

The only form you'd need is 1099-R *if* you took money out, either by withdrawal or conversion. Reinvestment within the account does not require reporting or a form.
posted by Dashy at 9:32 AM on January 18, 2018 [1 favorite]

FWIW, I don't think the IRS is accepting returns yet. I tried to file using Turbo Tax on Monday and it said the IRS forms aren't ready. No idea what that means but they're going to let me know when filing is possible.
posted by orrnyereg at 12:48 PM on January 18, 2018

Response by poster: I don't think the IRS is accepting returns yet

I did manage to file, thankfully! I think they started accepting the main form today- might be different if you have more complicated taxes.
posted by pinochiette at 1:59 PM on January 18, 2018