Lowry Letter® 1/18/2024

January 18, 2025

The fires in California are devastating and we are saddened by the suffering and disruptions experienced by so many. If you want to help, this article suggests credible and effective organizations that are in a position to provide immediate help to those affected.

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  • Many of you like to get your taxes done as early as possible. As you wait for tax forms, please be aware that you will NOT receive a form 5498 for IRAs unless the following have occurred:

    • A contribution to your IRA during 2024
    • A rollover contribution during 2024
    • A Roth conversion during 2024
    • A recharacterized contribution during 2024

Fortunately, Form 5498 is not required to file a return since the information needed can be found on your December statement. Please let us know if you have any questions.

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Ask the Joes® (and Cale) returns next week (probably).