Part 1, item 2, Year-end value on 12/31/2021. The person has 1 IRA Account and 1 Roth IRA account. The Roth IRA account was created this year upon converting some money from our IRA to Roth IRA.
The TT form references form 5498 as the source, but that does not get sent (for 2021) until May 2022, right?
We did receive a letter from Equity Trust that references Fair Market Value of the IRA account, but that value is much less than the total value of the IRA. What value should be supplied:
- The account's total value as of 12/31/2021, as viewed from the account statement?
- The Fair Market Value supplied in the letter received on 1/26/2022
- The value from 2020's 5498 which is closer to the account's total value in the first bullet
