IRS adds new distribution codes for hard to value assets

Solo-k Plan

The following new codes and descriptions for Form 5498 Box 15b give some indication of the types of hard-to-value assets the IRS expects to be reported in these boxes.

• A — Stock or other ownership interest in a corporation that is not readily tradable on an established securities market.
• B — Short or long-term debt obligation that is not traded on an established securities market.
• C — Ownership interest in a limited liability company or similar entity (unless the interest is traded on an established securities market).
• D — Real estate.
• E — Ownership interest in a partnership, trust, or similar entity (unless the interest is traded on an established securities market).
• F — Option contract or similar product that is not offered for trade on an established option exchange.
• G — Other asset that does not have a readily available FMV.
• H — More than two types of assets (listed in A through G) are held in this IRA.

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