IRS FORM 5498
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      1. SELF-DIRECTED IRA KNOWLEDGE CENTER
      2. IRS REPORTING
      3. IRS FORM 5498

      I Made an Excess Contribution to My IRA, Which I Then Removed. Why Does My IRS Form 5498 Reflect the Full Contribution Amount?

      We are required to report the original contribution on IRS Form 5498, even though it was later removed as an excess contribution. The excess removal will be reported to you and the IRS on Form 1099-R for the year it was removed.