Form 5498 - IRA Contribution Information

The information on Form 5498 is used by the IRS to monitor compliance with IRA contribution limits and rules, and by taxpayers to report IRA contributions and deductions on their tax returns. However, taxpayers are not required to file Form 5498 with their tax returns. Instead, they should keep a copy of the form for their records and use the information on it to complete their tax returns.

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