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    taxhelpwanted's Avatar
    taxhelpwanted Posts: 5, Reputation: 1
    New Member
    		  
    #1

    Mar 25, 2006, 01:36 PM
    Question regarding Form 5498
    Hi! This question is regarding 2004 Tax year. I contributed $1000 towards Roth Year during the year of 2004. The fair market value of this contribution was $1029 on 31st December, 2004. Only recently, I have realized that I have completely forgotten about Form 5498 which came as result of this contribution. What should I do now? I am going to file taxes for this year. What should I do about this mistake?? I need your help.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Mar 25, 2006, 11:35 PM
    You need do nothing. Form 5498 is an informational form sent to the IRS to inform them that you have an IRA. It does not have to be filed on your tax return.
    taxhelpwanted's Avatar
    taxhelpwanted Posts: 5, Reputation: 1
    New Member
    		  
    #3

    Mar 26, 2006, 08:04 AM
    Dear AtlantaTaxExpert:
    Thanks for helping me with this question. I appreciate your prompt response.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Mar 26, 2006, 09:10 PM
    Glad to help!
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