IR***.gov) : About Form 5498, IRA Contribution Information (Info Copy ...
Nov 18, 2022 — Information about Form 5498, IRA Contribution Information (Info Copy Only), including recent updates, related forms and instructions on how ...
Pe***e also ask : What is a 5498 tax form used for?
The information on Form 5498 is submitted to the IRS by the trustee or issuer of your individual retirement arrangement (IRA) to report contributions, including any catch-up contributions, required minimum distributions (RMDs), and the fair market value (FMV) of the account. For information about IRAs, see Pubs.
Pe***e also ask : Do I need to report form 5498 on my tax return?
No. You aren't required to do anything with Form 5498 because it's for informational purposes only. Please be sure to keep this form for your records as you'll need this information to calculate your taxable i when you decide to take distributions from your IRA.
Pe***e also ask : Is form 5498 the same as 1099-R?
In addition to reporting retirement plans, 1099-Rs are used to report other sources of i besides salaries, including interest and dividends and independent contractor i. IRS Form 5498 is used by those who have an individual retirement account (IRA).