Strube CPA PC

​​TAX & ACCOUNTING SERVICES FOR INDIVIDUALS & SMALL BUSINESSES​

UNDERSTANDING YOUR 2022 TAX FORMS 5498: IRA AND HSA CONTRIBUTIONS EXPLAINED

Tax season is behind us, and many of you with IRAs and HSAs are likely just now getting 2022 tax forms 5498.
What gives?
Rest assured, nothing should be wrong with the 2022 tax returns that you would have already filed.
​Because IRA and HSA contributions are pretty much the only two things you can do after the tax year ends to affect your tax return, forms are issued for disclosure purposes only to confirm the amount of contributions, if any, that you made for the whole tax year, as well as the December 31 balance of the account.
Feel free to provide that to your tax pro via their secure portal, but do not panic or presume that something is wrong.