InvestorsHub Logo

IDRILL4GASOIL

02/28/16 5:22 PM

#13824 RE: propeng #13823



Call Turbo tax and ask them. Having come from an IRA it should have gone back into your IRA but you decided to cash, fine. If you are below 59.5 then report it as a early withdrawal and pay tax. If over 59.5 it is IRA regular income. Hope this helps.

gusduggan

02/29/16 6:03 PM

#13825 RE: propeng #13823

Speaking of taxes...
I too got a refund from RG/2 last May and also did not get a 1099-R, but I did get a 1099-I. I guess they are saying that a portion of what I recovered was interest. The good side of that is that I will eventually get back more than I lost. (Ha Ha) The bad side is that while I have only recovered a very small portion of my losses, I now have to pay taxes on the interest.