Form 5498 documents individual retirement account (IRA) contributions, rollovers and distributions ... between January and mid-June in 2025. You should keep the form in case of an audit or ...
Most beneficiaries and their tax preparers don't even know to ask about possible after-tax money in an inherited IRA. To find out, a beneficiary should ... to track down form 5498 for prior ...
The Notice also extends the 60-day rollover deadline for ... The penalty for failing to take required IRA payouts is assessed at 25% of the amount that should have been taken out.
Form 5498 details IRA contributions, required minimum distributions (RMDs), Roth IRA conversions, rollovers ... reports the amount of the RMD that should be taken, based on certain calculations ...