What tax documents will I receive?
1099-R – If you’ve made a withdrawal, you’ll need this to file your taxes.
If you’ve made a withdrawal of $10 or more from your IRA in 2020, you’ll receive a 1099-R form, which you’ll need to file your taxes. You can expect to receive this form in early February 2021 from your custodian, Apex Clearing Corp. You’ll also be able to view this form in the “Documents” section of your account.
5498 – You’ll want this for your records, but you don’t need this to file your taxes.
You’ll also receive a 5498 form, which reports your contributions for the prior year, required minimum distributions (RMDs) taken, and the fair market value of your IRA. You won’t need this form to file your taxes, but you should keep it for your records. You can expect to receive this form in early June 2021 from your custodian, Apex Clearing Corp. You’ll also be able to view this form in the “Documents” section of your account.