Tax form information
5498 – IRA Contribution - Please note Excite CU will be sending you your 2022 IRA Tax Form 5498 – IRA Contribution in late May. The form will be sent either electronically if you are enrolled in eStatements or mailed to you if you receive paper statements. This form is informational only and sent out each May to you and the IRS to inform you and them of your prior year IRA Contributions.
| Form | Mailing Deadline |
|---|---|
| 1098 - Mortgage interest | January 25, 2023 |
| 1099C - Cancellation of Debt | January 20, 2023 |
| 1099INT - Interest income (includes escrow interest) |
January 20, 2023 |
| 1099R - IRA distributions | January 20, 2023 |
| 1099Q - Educational IRA distributions | January 20, 2023 |
IRA Annual Statement information
Your 2022 Annual IRA Statement will be mailed and available electronically on 1/31/23. Please note that if you are or will be turning age 73 in 2023 your Required Minimum Distributions will be disclosed on your Annual IRA Statement. The IRA Annual Statement replaces the old tax form 5498 Fair Market Value.
To view your statement electronically log in and select Additional Services in Online Banking and More in Mobile Banking, then select eDocuments > Annual IRA Statements. Your statement will appear under the Annual IRA Statement tab.
Please note Excite CU will be sending you your 2022 IRA Tax Form 5498 – IRA Contribution later in May. The form will be sent either electronically if you are enrolled in eStatements or mailed to you if you receive paper statements. This form is informational only and sent out each May to you and the IRS to inform you and them of your prior year IRA Contributions.
Property taxes paid from escrow on a mortgage loan:
You can find the amount of property tax paid from escrow in box 10 of the IRS Form 1098*. The amount is also located in online banking. From the accounts page, click on your mortgage loan, then click the expansion button for account details. The amount will be listed as escrow taxes.
*The amount stated on your 1098 form may not be ALL property tax you paid during the year; it is the amount paid from the stated escrow account. Confirm with your local tax collector the total amount of property tax paid.
