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what is tax form 5498 tax form 5498 is used to report contributions on iras which include traditional and roth as well as savings incentive match plan for employees simple and the purpose of irs form 5498 for example the account’s value on december 31 2015 determines the rmd for 2016 this amount is reported in box 5 of form 5498 the form notes via a check in box 11 whether an rmd is required for the year in which you receive the form e g the 2015 form notes whether an rmd is necessary for 2016 about form 5498 use the ment on tax forms and publications web form to provide feedback on the content of this product although we cannot respond individually to each ment we do appreciate your feedback and will consider all ments submitted caution we cannot respond to tax questions submitted using this page what is form 5498 sa used for turbotax support form 5498 sa is an informational form that reports contributions to what is form 5498 sa used for turbotax support resources for mon tax topics an explanation of irs form 5498 the balance form 5498 esa reports information about coverdell education savings accounts when you will you receive form 5498 form 5498 is sent out by jan 31 to ira account holders who must take required minimum distributions box 11 will be checked if you ll reach age 70 1 2 during the current year what is irs form 5498 ira contributions information form 5498 ira contributions information reports your ira form 5498 reports various types of ira contributions you make when to use tax form 1099 what is tax form 5498 sa zenefits should the account holder during the reporting year a copy of this form must be provided to their next of kin for reporting purposes final tips ce you receive form 5498 sa check it carefully to make sure your contribution and rollover amounts have been correctly recorded and reported what is irs form 5498 turbotax tax tips & videos form 5498 sa reports your annual contributions to these tax free accounts that you use to pay for medical expenses contributions to similar accounts such as archer medical savings accounts and medicare advantage msas will also warrant a form 5498 sa this form must be mailed to participants and the irs by may 31 what is hsa tax form 5498 sa form 5498 sa is critically important to filing your taxes it serves as the source of truth for what was contributed to your hsa for the tax year as well as defining prior year contributions and hsa rollover contributions without referencing form 5498 sa when you prepare your taxes you run the risk of incorrectly reporting your hsa contributions for the year 2017 form 5498 the information on form 5498 is submitted to the internal revenue use form 8606 to figure the taxable avoid the excise tax on the undistributed amount


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