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Does "traditional IRA" include rollover IRA's (from a business 401k) when completing IRA worksheet, does the value of all traditional IRA's include or exclude an rollover IRA (from a business 401k)?
I did a conversion of a portion of an existing Rollover IRA (rolled over from business 401K years ago) to an existing Roth IRA in December 2021.
What IRAs do I need to include for the TT question, "Enter the total value of all your traditional IRA, SEP, and SIMPLE IRA accounts on December 31,2021. This information is sent by mail on Form 5498. Do not include Roth IRAs."
When I did a similar rollover in 2019, I received from Vanguard two 2019 Form 5498 (IRA Contributions Information): one for my Traditional IRA; and, one for my Roth IRA (including the new 2019 Roth conversion amount). However, I did receive one for my rollover IRA (from an employer 401K) at Vanguard from which I did the conversion from.
If I recall correctly, the value of my after-tax Traditional at Broker1, my pre-tax Traditional IRA at Broker1, my pre-tax Traditional IRAs at other brokers, and my Rollover IRA (from 401K) at Broker1, were all used for the total year end value of IRAs. But, not my Roth IRA. Correct or incorrect?
It is too, early for 2021's forms but I expect the same two forms that I received in 2019, which did not include one for the Rollover IRA.
Thanks, in advance.
As a side note, I had a tax accountant do the return in 2019 and I don't have the worksheets.