Announcement

Collapse
No announcement yet.

form 5498

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #1

    form 5498

    Hello all, on the form 5498, box#5 which is fair market value of account has figure of over $2,000 and ROTH IRA type. There is no other figure in any other box. I don't think I have to report this, Am I right? Thank you for the response.
    Tags: None
    #2
    This is not reported

    The function of the form is to help you calculate your RMD if you are 70 1/2 or older.
    In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
    Alexis de Tocqueville

    Comment

      #3
      Originally posted by DaveO View Post
      The function of the form is to help you calculate your RMD if you are 70 1/2 or older.
      Also, 5498's may sometimes be needed when preparing an 8606.

      Comment

      Previous template Next

      Disclaimer

      Collapse

      This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

      Working...
      X