Yes, IRS Form 5498 is one more form for you to deal with, but it doesn't make your tax life much more complicated. It's a benign, and even helpful, form. What's so great about it? Well, you don't have ...

Tracking basis will be important for tax reporting and for rollovers involving Trump Accounts. Accordingly, the IRS is soliciting comments on a new tax form, Form 5498-TA.

The 5498-SA is the IRS form that reports all contributions to your HSA for the prior year (2023), including those contributed between Jan. 1 and the tax filing deadline of the current year. It also ...

Key reporting forms: Form 1099-R reports most 401(k) distributions, while Form 5498 confirms IRA rollovers; W-2s show contributions. Penalties and exceptions: Withdrawals before age 59½ may face a 10% ...

A few days ago, "Joe," age 49, received an IRS Form 5498 from his financial institution that looked at first blush like a report of a contribution to his IRA (individual retirement arrangement).

In response to the coronavirus (COVID-19) pandemic, the Internal Revenue Service (IRS) has issued new formal guidance that extends the deadline for providers of individual retirement accounts and ...