- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Forms 5498 will show that contributions were made, but that will need to be combined with the corresponding year's tax return to establish that no deduction was taken for the contribution. This is probably why the IRS charges a $50 penalty for Forms 8606 filed late, to recoup the cost of verifying that a nondeductible contribution was actually made.
‎June 4, 2019
1:13 PM