No, there is nothing to report when it is in an IRA, if there is anything owed your broker will take care of it. It never shows up on a 1099 report. And YES you do pay tax on it when you take a distribution like any other investment in an IRA.
I think that with the market doing so well that everyone is afraid that the Feds will start to raise the rates. I think thats why all the bond funds are taking a hard hit. I have most of my outside money in Muni funds for the tax break, but it looks like I am going to get hammered. There is just no good place to put tour money today if you don't want it in stocks.
I did sell the 57.50 calls this month, didn't think it have a run like this. Now I have to decide to let it go or buy the calls back and a pretty high premium. Selling the calls wasn't the best decision.