« Health Savings Accounts Get Attention | Main | Baby Boomers Retirement »

Year End Tax Documents

Most of us will have a pile of Year End Tax Documents in our mailbox this week.  Financial institutions are required to send out  these tax statements each January.  Your IRA provider will send out a 5498 form and a1009-R if you've done a rollover or distribution from an IRA or retirement account.  Your taxable accounts will generate other statements. 

Bankrate.com provides a great summary of these documents.

Here's an example and link.

 1099-R
If you received a pension or a distribution from an individual retirement account or retirement plan, the 1099-R provides the details of these transactions. The form is issued by your broker, pension plan manager or mutual fund company. You'll also get a 1099-R if you rolled over money in a retirement plan, usually a 401(k) to an IRA, or if you converted a traditional IRA to a Roth IRA. A rollover usually is not a taxable event, but a pension payout may be.

Posted on Sunday, January 29 by Registered CommenterWise Owl | Comments Off