Form 5498 details IRA contributions, required minimum distributions (RMDs), Roth IRA conversions, rollovers, and the fair market value (FMV) of IRA accounts. Form 5498 reports IRA contributions ...

The backdoor Roth IRA is a maneuver that allows high ... Insurance Contracts, etc., and Form 5498, IRA Contribution Information. The purpose of Form 8606 is to let the IRS know that your ...

However, the IRS has noted on its "Instructions for Forms 1099-R and 5498 (2024)" webpage that the rollovers "are reported on Form 5498 as Roth IRA contributions and not as rollover contributions ...

529 to Roth IRA rollovers can be made beginning in 2024 ... so a 1099-Q will be generated if funds are distributed from a 529 plan, and the Form 5498 will be received from the Roth contributions ...

While this IRS change now allows after-tax money from company plans to be converted to Roth IRAs tax ... to track down form 5498 for prior years, which would also show if IRA contributions were ...

Confused about your 1099-R and 1099? Learn the key differences between these tax forms and how they impact your taxes.