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Why is preparer asking for IRA form 5498

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Level 3

Preparer for my mother, (and last year they are going to be) is wanting the ira form 5498 to compete her tax return.  Why?

I asked what schedule and line number it is reported on that is sent to the IRS, have not gotten a response yet.

Have no idea what software they are using and do not remember them asking for the form in the past years either.

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Level 15

Dose she have basis in her IRA and took distributions in 2018? Did she make contributions for 2018, or for 2017 that were paid in 2018?

Any of these are good reasons to ask for the 5498.

May I ask why yiou seem to be up in arms over this?


ex-AllStar

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Highlighted
Level 15

Dose she have basis in her IRA and took distributions in 2018? Did she make contributions for 2018, or for 2017 that were paid in 2018?

Any of these are good reasons to ask for the 5498.

May I ask why yiou seem to be up in arms over this?


ex-AllStar

View solution in original post

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Level 15
Jinx :+1::+1:
Former Chump... umm.... AllStar.
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Level 3
only distribution was the rmd, no basis at all.
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Level 3
Part of the reason is this company cannot file a return without extension if their life depended on it, at least that appears to be the case and has been for quite a few years.  Also she owed this year for the first time ever, but know why for that -- had to pay with the extension (no problem) except they would not answer email (the way they want to communicate) about paying electronically with their software -- the canned message was that they were so busy filing extensions that it would be several days before they could get back to me.  So did it myself and two days later they said, yes we can do that.  Duh
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Level 3
Just made me mad.  Never asked for it before, they have had all the paperwork since the middle of March and only after the extension was filed are they now saying that they have to have this form.  And in the process I am trying to arrange for her move from one senior living place to another, so was frustrated.  Also because now not sure I could find the form in the boxes if I wanted to and there is nothing there that would impact the return in any way.
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Level 15
Level 15
sounds like they're stalling for time, mom should have just sent all her stuff to you, problem solved!

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Level 15

To confirm that an IRA contribution was actually made?

Why so defensive about it, if the IRA *was* made?

Former Chump... umm.... AllStar.
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Level 3
To old to make a contribution
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Level 15

IRA contributions are reported on page one, as an adjustment to income.  Well, it *used* to be page 1....now it's Sch 1, which flows (sorta...) to page 1

Former Chump... umm.... AllStar.
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