The major of piece of information to review on Form 5498 is the prior year-end "fair market value" of the account (Box 5). If you are subject to taking required minimum distributions (either because ...

2020 was an eventful year when it came to IRA required minimum distributions (RMDs), especially for those who took their RMDs before the March 2020 suspension was enacted. Then came rollover relief.

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 ...

SECURE 2.0 followed in the footsteps of the Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”) to further delay the required beginning date for required minimum ...

A trio of IRS forms can lead you astray regarding proper tax treatment of your retirement benefits. Form 5498 for inherited IRA: The first is IRS Form 5498, the "information return" your IRA provider ...

My husband and I are 75 years old. We took a 2020 RMD last January. Then the federal government allowed everyone who had taken a 2020 RMD to return it to their IRAs. We did. Let's say we took a ...