Get the free 2014 Form 5498-ESA - Internal Revenue Service - irs

To order official IRS forms, call 1-800-TAX-FORM (1-800-829-3676) or Order Information Returns and Employer ... 2014. Cat. No. 34011J. Cover dell ESA. Contribution. Information. Copy A. For ... www.irs.gov/form5498esa.

How to fill out 2014 form 5498-esa

How to fill out 2014 form 5498-esa:

1. Gather all the necessary information: Before starting to fill out the form, make sure you have all the required information on hand. This includes your personal details, such as your name, address, and Social Security number, as well as the details of the financial institution holding your individual retirement account (IRA), including their name and address.
2. Enter personal information: Begin by providing your personal information in the designated fields on the form. This may include your full name, address, and Social Security number. Make sure to double-check the accuracy of the information before proceeding.
3. Provide IRA details: On the form, you will need to provide the details of your IRA. This includes information such as the name of the financial institution, their address, and the account number. Ensure that this information is correct and up-to-date.
4. Report contributions: Next, you will need to report any contributions made to your ESA (Education Savings Account) for the tax year in question. This includes both the monetary amount and the tax year of the contributions. The form provides specific sections for reporting regular contributions, rollover contributions, and conversion contributions, if applicable.
5. Indicate fair market value: In this section, you will be required to report the fair market value of your ESA as of December 31st of the tax year. This can typically be found on the statement provided by your financial institution. Ensure that the value is accurately reported.
6. Sign and date the form: Once you have completed all the necessary sections of the form, make sure to sign and date it. Failure to do so may result in the rejection of your form.

Who needs 2014 form 5498-esa:

1. Individuals with Education Savings Accounts (ESA): The 2014 form 5498-esa is designed for individuals who have an Education Savings Account. This form allows them to report their contributions and the fair market value of the account for the tax year.
2. Taxpayers contributing to an ESA: If you made contributions to someone else's Education Savings Account for the tax year 2014, you may also need to fill out this form. This applies to parents or guardians making contributions on behalf of their child or other eligible beneficiaries.
3. Financial institutions managing ESAs: Financial institutions that hold and administer Education Savings Accounts are also required to provide a copy of this form to account holders. If you are a financial institution managing ESAs, you will need to generate this form for your clients.

For pdfFiller’s FAQs

What is form 5498-esa - internal?

Form 5498-ESA is used by trustees of Coverdell education savings accounts (ESAs) to report contributions, transfers, and rollovers made into the ESA during the tax year.

Who is required to file form 5498-esa - internal?

Trustees of Coverdell education savings accounts (ESAs) are required to file form 5498-ESA.

How to fill out form 5498-esa - internal?

Form 5498-ESA should be filled out by the trustee of the Coverdell education savings account (ESA) and submitted to the IRS.

What is the purpose of form 5498-esa - internal?

The purpose of form 5498-ESA is to report contributions, transfers, and rollovers made into a Coverdell education savings account (ESA) during the tax year.

What information must be reported on form 5498-esa - internal?

Form 5498-ESA must include information about contributions, transfers, and rollovers made into the Coverdell education savings account (ESA) during the tax year.

Where do I find 2014 form 5498-esa?

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