what is the tax form we received for a simple ira
For example, if you made contributions to a traditional IRA for the 2016 tax year between January 31, 2016 and April 18, 2017, you should receive a Form 5498 in May of 2017. (If FMV/RMD is involved the deadline is January 31.) Form 5498 reports the Fair Market Value (FMV) of your IRA account as of year-end. This information should be entered on Form 8606, Line 6 ONLY IF you took distributions from a Traditional, SEP, or SIMPLE IRA during the current tax year AND you made nondeductible contributions to a traditional IRA in the current tax year or an earlier year.