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Retirement tax questions
the 1099-R suffices for your TRAD IRA rollover.
The 5498 is to be used in the future to determine whether any distributions from the Roth are subject to income tax (the earnings) or 10% penalty (if under 59.5 years old).
Once you are over 59,5, there can not be a 10% penalty on any part of a Roth distribution.
Once you are over 59.5 AND any ONE of your Roth accounts has been opened for 5 calendar years, there can not be tax on any earnings withdrawn.
‎June 3, 2023
1:18 PM