Do I Need to Use Form 5498 IRA Contribution Information on My Taxes?

No. This form is only to let you understand the current market value of your IRA. There should be an accompanying 1099-R with the correct information to be used on your income taxes.

Can I Take A Tax-Free Loan Against My IRA?

Yes as long as its repaid within 60-days.

I have an LLC, How Does it Effect My Personal Taxes?

You have a couple choices:

- If there's one owner, the LLC is treated as sole proprietorship and goes on that person's personal 1040 via a Schedule C.

- If there's two owners, the LLC is treated as a partnership, which requires a 1065 to be filed which results in a K-1 that goes on your personal 1040.

- Form 8832 can be filled out to declare the LLC a corp but then we must file a full 1120 or 1120S corporate filing naming officers, wages and such.

Basically the first two ways are the only easy way to do it. 

SOURCES:

https://www.irs.gov/instructions/i1065/ch02.html#d0e3908

https://www.taxact.com/tsupport/FAQDisplay.asp?Question=740

When Do I Have to File a 1041 on Trust or Estate Income?

Only if the estate makes more than $600 in a year.


SOURCE:
https://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Forms/What-is-a-Schedule-K-1-Form-1041--Estates-and-Trusts-/INF20134.html

Are Injury Settlements Taxable

No.