Deleted
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Post by Deleted on Jan 4, 2015 17:05:53 GMT -5
I rolled over (or whatever the technical term is) $4000 last year from the IRA to Roth IRA. I know it is a taxable event.
After looking at Vanguard's timeline for tax forms, it looks like I won't receive the form for this until May! That's the same time I get the form saying how much I contributed for 2014 to the Roth. That's never been a problem. TurboTax just asks me how much.
Will it be that simple for this, allowing me to file without the form, or will I have to file an extension just because I don't have the form?
Thanks! |
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vonna
Well-Known Member
Joined: Aug 11, 2012 15:58:51 GMT -5
Posts: 1,249
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Post by vonna on Jan 4, 2015 17:19:17 GMT -5
You only need the 1099-R to show the correct code for the conversion. You should get that form in plenty of time, probably by the end of this month. The form 5498 that comes in May is not usually needed for tax preparation.
If the $4000 is all taxable, it will be pretty simple. If some of your traditional IRA contributions were non-deductible, you will need to come up with the cost basis -- form 8606 from previous year's returns can help with that. |
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Deleted
Joined: Nov 22, 2024 4:59:11 GMT -5
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Post by Deleted on Jan 4, 2015 17:53:03 GMT -5
You only need the 1099-R to show the correct code for the conversion. You should get that form in plenty of time, probably by the end of this month. The form 5498 that comes in May is not usually needed for tax preparation.
If the $4000 is all taxable, it will be pretty simple. If some of your traditional IRA contributions were non-deductible, you will need to come up with the cost basis -- form 8606 from previous year's returns can help with that. It is all taxable. That's why I was hoping it would be simple.
Thanks!
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