Originally Posted by SumDay
Does this have to be "recategorized" or something? Seems like I've heard that term used before for instances like this. Can Vanguard do this? Do I have to file an amended return with the IRS? Does it even matter?
And, as a rhetorical question, even if this were a 2013 contribution, why am I just getting the 5498 in late May?
In theory you could file an amended return if you think that would remedy the problem, but I would not share that strategy when talking with vanguard. If you and or they have access to the original documentation on how the transaction is to be coded they should be able to correct it.
For 2013 transactions, the 5498's go out this time of year. They wait until Apr 15 ie the cutoff for the prior years IRA contributions.
This is one of the reasons why I always do an extension and don't file until after I receive my 5498s. I want to be confident that everything is in good order before I file because I don't want to have to think about it again later unless I made a mistake.