Form 5498 - What is a rollover contribution?

[elisaheine77]

I recieved a 2019 Form 5498 that shows my Roth IRA and IRA contributions. For 2019 it showed that I made 0 contributions to the Traditional IRA, but had a rollover contribution of $1300 (box 2). For the Roth IRA, I reported that I contributed $6000, but had a Rollover Contribution of $4000 (box 2). What does the rollover contribution in box 2 mean? I was unaware of these rollover contributions and I do not remember filing anything in 2019 or getting other documentation to submit from Vanguard pertaining to this rollover (only the 1099-DIV and 1009-INT forms). Do I need to do anything further?

[BillM223]

The Instructions for form 5498 for 2019 (probably the same every year) are at the bottom...

Rollovers are not taxable and frequently administrators do not send out 1099-Rs. Therefore, they normally do not affect your tax return (the 5498 itself is informational in nature and does not get entered on your tax return).

From a tax point of view, there is no problem, but as a taxpayer, I would be curious who was putting money into my accounts (it's probably an innocent explanation).

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Box 2. Rollover Contributions

Enter any rollover contributions (or contributions treated as rollovers) to any IRA received by you during 2021. These contributions may be any of the following.

• A 60-day rollover between Roth IRAs or between other types of IRAs.

• A direct or indirect (within 60 days) rollover from a qualified plan, section 403(b) plan, or governmental section 457(b) plan.

• Any qualified rollover contribution, as defined in section 408A(e) from an eligible retirement plan (other than an IRA) to a Roth IRA.

• A military death gratuity.

• An SGLI payment.