IRA Tax Question

[WhateverItTakes]

I opened up a ROTH IRA in 2003. For the 2003 tax year I received a 5498 form detailing how much I put in the account and the total account value. In 2004 I again contributed to the account, but I haven't received a 5498 form. Should I receive one for this year's contribution, or do you only receive the form for the year that you initially opened the account?

 

[96Horn]

You should receive one each year you have the account.

 

[ashmead]

You ought to receive one for this year as well. For tax purposes on a Roth, your contribution is not deductible. Your earnings on the account will grow tax free forever. So the tax bennies come on the distribution end.

Hook 'em!