Which tax forms can I expect from Wealthfront for a Roth conversion?

You'll receive two tax documents if you convert your traditional IRA to a Roth IRA, and these forms will be posted to the Documents page on your dashboard. We’ll also remind you of an additional tax form that you may need to file directly.

  1. You'll receive a Form 1099-R for your traditional IRA. It will be coded as a rollover to a Roth IRA. 
  2. You’ll receive a Form 5498 for your Roth IRA. This form reports the value of the funds received and the value of the account at the end of the year. This form is generally for informational purposes only. The data doesn't have to appear anywhere on your tax return. 

Learn more about what you can expect at tax time for your Wealthfront accounts

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The information in this FAQ is provided for general informational purposes only and should not be construed as investment advice or a recommendation that you take a particular action. Wealthfront and its affiliates do not provide tax advice and investors are encouraged to consult with their personal tax advisor.

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