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 Form 5498 for 2012

2012-2025 Form

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Video instructions and help with filling out and completing Form 5498 For

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Instructions and help about Form 5498 For

[Music] hey everybody this is Kevin a CPA that does financial planning and tax and hope you're doing great the reason for this video real quick is to say that tax season is over and you get something in the mail and it says important tax document for the prior year what do I do well my mission here is just to educate you on what this is for and what you can do with it so so this is called form 5498 yeah exciting to talk some tax lingo with you but it's form 5498 it's the brokerage firm in this case Charles Schwab sends this information to the IRS so you're like tax season is over what the heck why did I get this well this is the brokerage firm actually telling the IRS that you've done something with a retirement account or an investment account in the prior year so this is kind of the proof source that the IRS receives to to say that hey you've made a contributory IRA you maybe put $6,500 into your IRA account and maybe you got to deduct

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