Personal Finance & Money Asked on January 19, 2021
I am self employed. I recently shutdown my individual 401(K) plan at E*Trade. There was also a Roth 401(K) plan also. I am not sure if it is one plan or two.
I have been told by somebody at E*Trade that I should be reporting my contributions to the Roth 401(K) plan. He believes the correct form to use is form 5498 but he is not sure about the number. From what I see, that form is for IRA contributions not 401(K) contributions. Should I have been reporting my contributions to the Roth 401(K) each year and if so, how?
Note: I understand about form 5500ez and that I do not have to file it most years. I do have to file it this year because I am shutting down the plan.
I use Turbo Tax to do my income tax every year.
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