Just when you thought it was safe to forget all about taxes …. a seemingly straggling form may arrive.
Form 5498
- Usually arrives in May
- Confirms with the IRS that you rolled over your 401k, IRA or other taxable distribution to another plan
- Confirms to IRS that Funds rolled over are not taxable
- Applies to the prior tax year, not this year
- Causes angst due to the late arrival (tossed this one in based on truth)
These are the main characteristics of this seemingly tardy tax form. Now you know… just a reminder!
Give us a call if you have any questions!
Happy Friday … You know …. time with those special !!!
John A. Kvale CFA, CFP
On the Alzheimer ward, we have people that cannot remember what they
had for supper however can sing Cheatin Heart from
memory.