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January 31, 2024
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Traditional IRA Basis

  • January 31, 2024
  • 1 reply
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My wife has an IRA with a basis amount.  She received a Form 5498 due to a rollover of her 403B to her IRA early in 2023, but the year end amount does not match her total IRA amount.  This is due to us transferring our self-managed IRAs to a managed IRA late in 2023, which was a direct transfer and didn't trigger a Form 5498 for the managed account (at least we have not received one yet).  However, there is still a residual amount in the self-managed IRA, which is the amount on the 5498 that she received.  Do I enter the amount from the 5498 or the total amount from our year-end statements?

Best answer by RobertB4444

The total amount.

 

@DaveS6 

1 reply

January 31, 2024

The total amount.

 

@DaveS6 

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DaveS6Author
January 31, 2024

Thanks