I am wondering how to report traditional IRA contributions if the form 5498 isn't available until May. Maybe I have forgotten something simple about this from my education. It just does not make sense how to use form 5498 to report recorded contributions for a tax return if the form isn't available until after filing season ends.
You don't need Form5498. Ask the client what they contributed. If you need proof, ask for investment company December statement as most will show total contributions or cancelled check.
You don't need Form5498. Ask the client what they contributed. If you need proof, ask for investment company December statement as most will show total contributions or cancelled check.
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