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Do I need to report interest earned from my account on my federal income tax return?

Comerica Bank is the custodian of your myRA and sends annual information to you and the IRS on the money put into or distributed (taken out of) your myRA for a given tax year. Money put into your account and the total amount of savings in your myRA is reported on Form 5498 (IRA Contribution Information). Money distributed or taken out of your account is reported on Form 1099-R (Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.)