Thanks so much. I'm surprised how little everyone knows about this topic. I reached out to Vanguard and they were unclear on whether they would issue the appropriate codes on the 5498. My understanding is it will need to say PO on box 13 but I don't trust they'll get it right.
In addition, my tax person knew nothing about this and she still wanted me to pay taxes on the distribution and 10% penalty! It would cost me $4k in taxes and penalties if this doesn't get done right.
