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What do I need to do for my IRA contributions (Form 5498) when filing my taxes?

For any IRA accounts with contributions (deposits), you will receive a Form 5498 in late May. We will post this form under the "Documents" link at the top of your dashboard. 

Form 5498 is for informational purposes only. You are not required to file it with your tax return.

This form is not posted until May because you can contribute to an IRA through mid-April. This means you will have finished your taxes before you receive this form. Therefore, if you need to know how much you've contributed to any IRA, simply refer to the last page of your most recent monthly statement, which can be found under "Taxes and Documents" tab after you log in. Alternatively, you can go to "Transactions" after logging in to your Wealthfront account and filter by "deposits" for the prior year to see each contribution to your IRA.

Keep in mind that only Traditional IRA contributions (deposits) are relevant for your tax return, while Roth IRA contributions (deposits) are not.

Nothing in this blog should be construed as tax advice, a solicitation or offer, or recommendation, to buy or sell any security. Financial advisory services are only provided to investors who become Wealthfront Inc. clients pursuant to a written agreement, which investors are urged to read carefully, that is available at www.wealthfront.com. All securities involve risk and may result in some loss. For more information please visit www.wealthfront.com or see our Full Disclosure. While the data Wealthfront uses from third parties is believed to be reliable, Wealthfront does not guarantee the accuracy of the information.

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