Your Guide to This Year’s Tax Forms and More
As the new tax season has officially begun, we’ve been getting some questions from clients who want to know what forms and documents (i.e., 1099s, form 5498, etc.) they should expect to receive over the coming days and weeks.
So in lieu of a video for this week, we wanted to send you the attached reference guide from the folks at LPL that gives you all of this important information, as well as certain tax filing dates for 2022 that you need to be aware of.
Also included are answers to a few common questions we’ve received recently. Tax time is busy, with lots of different forms, due dates, and filing procedures, so we’re hopeful that this guide will help.
One thing that we want to clear up ahead of time, regarding form 5498: you’ll note that it is issued from LPL on two different dates, February 25th (for most accounts) and May 27th (for accounts with 2021 contributions made in this calendar year, 2022). But Form 5498 is filed by the IRA Custodian, and a copy is sent to you, which is for informational purposes only. You are not required to file it with your tax return.
As always, if you have any questions, please don’t hesitate to call us here at Lucia Capital Group. How can we help you? Just let us know!Download the Tax Guide
The information provided should not be considered specific tax, legal, or investment advice and is not specific to any individual’s personal circumstances. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
You should always seek counsel of the appropriate advisor prior to making any investment decision. All investments are subject to risk including the loss of principal. This material was gathered from sources believed to be reliable, however, its accuracy cannot be guaranteed.
IRA withdrawals will be taxed at ordinary income rates. Withdrawals prior to age 59½ may also be subject to a 10% penalty tax.