The deformation behavior of additively manufactured Alloy 718 in as-built condition and after annealing was studied in situ under tensile loading along the build direction. Pre-characterization by synchrotron X-ray diffraction and electron microscopy revealed a significant amount of γ″ precipitates in the as-built samples, whereas the γ″ phase was entirely consumed and needle-like δ precipitates appeared in the annealed sample. In situ neutron diffraction (ND) and acoustic emission (AE) enabled indirect observation of the role of the precipitates on the mechanical behavior. ND provided information on the load accommodation in the matrix, while AE detected a strong signal from the interaction of dislocations with the δ-phase precipitates during deformation of the annealed samples. The results imply that in the annealed samples the matrix sheds the load to the precipitates, while in the as-built material the matrix bares a significant load. © 2020, The Author(s).