ROTH IRAs generally do not require you to file any specific end-of-year tax forms with the IRS, as contributions are made with after-tax dollars and qualified withdrawals are tax-free. However, you will receive Form 5498 from your financial institution around May, which reports the amount you’ve contributed to your ROTH IRA for the previous year. Although this form is for your records and not due with your tax return, keep it with your tax documents. If you take any distributions from your ROTH IRA, you will receive Form 1099-R, reporting the amounts distributed. Qualified distributions are generally tax-free and not reported on your tax return, but you’ll need to keep these records as proof in case of an audit. Always consult with a tax professional for advice specific to your situation.
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