2024 Tax filing Information

By White Pine Wealth Management

Tuesday, April 15^th is the deadline for filing 2024 taxes. We want to draw your attention to some tax resources and information below that may be helpful to you as you file last year’s taxes.

Please note that we are available by appointment only. While we can accept check deliveries and paperwork drop-offs at reception, other requests should be made in advance by phone or email. This allows our team to plan and prepare for your requests. Please understand that if you stop in without an appointment, we may not be able to assist you at that time. Thank you for your understanding. 

• You can view and download your documents by visiting Fidelity.com. Here is some information about timing and how to see your personal tax information on their website. If you are unsure about how to log in to your Fidelity.com account, click here for Fidelity login instructions.

• If you have an annuity from which you are receiving income, or to which you contributed in 2024, you may receive tax documents from the annuity company that you will need to include in your filing. Please contact us if you believe you are missing an annuity tax document.

• If you took withdrawals from a 529 college savings plan, you will receive a 1099-Q from the fund company holding the plan.

• Some tax documents are not due until March 15^th or after, like K-1 partnership documents.

• This link explains how to file a tax extension if you’re preparing your own taxes and are expecting to have an incomplete return by the deadline.

• 5498 Tax Forms will be mailed in May. A 5498 tax form will not be mailed to anyone who took a Required Minimum Distribution. They will only be mailed to you if:
  • You rolled over a retirement account (this could be a 401k, a 403b, an IRA, etc.)
  • You made a 2024 contribution between January 1^st of 2024 and April 15^th of 2025.
  • You converted to a Roth IRA
  • You recharacterized a contribution

You should still be able to file your taxes on time for 2024 as the 5498 is only for informational purposes and is not required to be filed with your taxes. However, you should keep it with your tax records for the year in which the rollover occurred.

• If you’re planning to make IRA contributions to your Traditional or Roth IRAs for the 2024 tax year, please contact us no later than April 8th to discuss those contributions. We can make contributions to tax-qualified accounts using funds from your non-tax-qualified investments, but a little planning ahead of time helps us ensure that these types of transactions are administratively possible.

• If you are taking IRA distributions and are receiving very large tax returns due to overpayment, please contact us. We can adjust your withholding to ensure that we are not distributing more from your retirement accounts than necessary.

• Some states experiencing natural disasters have extended filing deadlines which can be viewed here.

As always, if you have any questions, we are happy to help. Please call us at 207-781-5800. Happy filing!