"Tell Us the Value of Your Traditional IRA": should I include all my IRA accounts? It states that the value is on form 5498, but I do not expect to receive 5498 in 2018.

[ttcustomers]

"Tell Us the Value of Your Traditional IRA": should I include all my  IRA accounts  in addition to the IRA account that I made some ROTH conversion? 

Also, it states that the value is on form 5498, but I did not receive 5498 for any of my IRA accounts in 2018 since I did not contribute to IRA in 2018. So, what do I put on for this question: "Tell Us the Value of Your Traditional IRA"?  Should I simply add all my IRA accounts' value as of 12/31/2018? Please advise. Thank you!

[DDollar · Accepted solution]

You can check your year end statements for the balance, and as you say, simply add up all your IRA accounts' value as of 12/31/18.   Do not include the value of Roth IRAs.

[macuser_22]

The December 31, 2018 year end IRA value is the aggregate total of any existing Traditional, SEP or SIMPLE IRAs since any basis applies to all accounts.     Any non-deductible basis must be prorated over the current years distribution and remaining IRA value to determine the taxable amount on lines 6-18   on a 8606 form with the remaining basis for future distributions on line 14.

Keep the 8606 so you can use the line 14 amount for the next distribution.

You can use year end statements to get the value.  The 5498 is not usually sent until May.