Form 5498 - not understanding the total value requested of IRAs

kdwhitle · ‎March 4, 2025

I converted all of my traditional IRAs in 2024 to Roth IRAs. This was completed in April of 2024.

That said, shouldn't the value for the question, "Enter the total value of all of the IRA, SEP, and SIMPLE IRA accounts on December 31, 2024. This information is sent by mail on Form 5498. Do NOT include Roth IRAs..." be $0?

I didn't receive a Form 5498...

MaryK4 · ‎March 4, 2025

Yes, if you converted all of your traditional IRAs to Roth IRAs in 2024, the year end Value on December 31, 2024 is zero (0)

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View solution in original post

MaryK4 · ‎March 4, 2025

Yes, if you converted all of your traditional IRAs to Roth IRAs in 2024, the year end Value on December 31, 2024 is zero (0)

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Form 5498 - not understanding the total value requested of IRAs