Tracking basis will be important for tax reporting and for rollovers involving Trump Accounts. Accordingly, the IRS is soliciting comments on a new tax form, Form 5498-TA.

Yes, IRS Form 5498 is one more form for you to deal with, but it doesn't make your tax life much more complicated. It's a benign, and even helpful, form. What's so great about it? Well, you don't have ...

It's everyone's least favorite time of year: Tax season, when you get hit with more attention from the Internal Revenue Service than you ever wanted. For investors, tax time comes with even more IRS ...

Key reporting forms: Form 1099-R reports most 401(k) distributions, while Form 5498 confirms IRA rollovers; W-2s show contributions. Penalties and exceptions: Withdrawals before age 59½ may face a 10% ...

The 5498-SA is the IRS form that reports all contributions to your HSA for the prior year (2023), including those contributed between Jan. 1 and the tax filing deadline of the current year. It also ...

Why timing matters: Indirect rollovers have a strict 60-day deadline, and missing it can trigger taxes and penalties. Forms you’ll need: Form 1099-R reports distributions, while Form 5498 confirms IRA ...

Add Yahoo as a preferred source to see more of our stories on Google. It's everyone's least favorite time of year: Tax season, when you get hit with more attention from the Internal Revenue Service ...