What do I need to do my taxes online?

I do my own taxes online each year using TurboTax (and have been really pleased with it!). This year, a few things are different for me. I have made some hefty investments in mutual funds, a Roth IRA, and I purchased a Life Insurance Policy. Do I need any information about these accounts for tax purposes?

Investing in a mutual fund is not a tax event, only when you either sell your investment, or you receive earnings from the investment such as dividends.

There is no tax reporting for a Roth IRA since the contribution is nondeductible. The tax event occurs when you withdraw your money from the Roth IRA.

Purchasing a life insurance policy is also not a tax event. Life insurance premiums are nondeductible. If it is a whole life policy and if you cash it out, at that point, taxes are involved. If you die and your beneficiary receives the life insurance proceeds, none of it is taxable.

yes u will get a w2 for your ira also

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