- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
dmertz took a little different tack than me, but we don't really disagree - the main question is how did the custodian report the contribution? Was the wrong box in line 7 checked or was the contribution put in the wrong box on the 5498?
Follow his train of thought - it's a little clearer than mine - and have a chat with your IRA administrator to see what they did. As dmertz says, if they reported in both in line 7 and in line 1 as a traditional IRS contribution, then you have the two choices outlined above.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎June 4, 2020
12:53 PM
449 Views