Printable Form 5498 Rhode Island 2024-2025

Printable Form 5498 Rhode Island: What You Should Know

Active Duty Servicemen, and State-Provided Employee Matching Funds. You should be able to enter income, as well as a line for whether your IRA, SEP, or SVP was terminated or closed. You may only enter one IRA, IRA account number, and any other tax identification number on the form, such as FIN CEN, state withholding tax. Please note that while the FIN CEN name will be filled out on the form, the information reported on the Form 5498 is dependent on how the IRA is currently being managed. For example:  An IRA with 5,000 in a designated Roth IRA account and 1,000 in a designated traditional IRA account or a SEP account with the same amount in a traditional account and a Roth account should report the same IRA account number. The IRA would report Roth IRA contributions, and the SEP would report SEP IRA contributions.  An IRA with 5,000 in a designated Roth IRA and not in a traditional IRA or a SEP would only report contributions to the IRA that was set up to receive these contributions. This is the same IRA number for the two accounts.  If your Roth IRA contributed 2,000 to a Roth IRA account in 2018, then the Roth IRA that contributed 2,000 on September 12 would report 2,000 on the Form 5498.  If you make any contributions outside the IRA, you may also enter a line for any of the following: The IRA account that received an additional 500 The IRA account that received an additional 100 The IRA account that received an additional 250 The IRA account that received an additional 100 The IRA account that received an additional 75 If, however, you do not make any contributions outside the IRA prior to January 1st of that year, the tax return will report 0.  Form 5498: IRA Contribution Information (Info Copy Only) — IRS Apr 20, 2025 — The 5498 tax form reports IRA contributions, like Roth and traditional IRAs, Simplified Employee Pension (SEP), Savings Incentive Match Plan for  Active Duty Servicemen, and State-Provided Employee Matching Funds. You should be able to enter income, as well as a line for whether your IRA, SEP, or SVP was terminated or closed.

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