I received my Form 5498 in the mail after I filled my 2017 tax return through turbotax. Do I need to report that in my taxes? If yes, what needs to be done.

mazharmalik · ‎June 4, 2019

macuser_22 · ‎June 4, 2019

A 5498 is information only and does not go on a tax return. It might be reporting IRA contributions or distributions that should have already been reported.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

malik1 · ‎June 4, 2019

I didn't got reported. But you can be right it is for information purposes. Only box 5 is filed on Form 5498.

macuser_22 · ‎June 4, 2019

That just informs you of the fair market value of your account as of Dec 31, 2017.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

malik1 · ‎June 4, 2019

Which means I'm good. Okay.. thank you for answering!

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I received my Form 5498 in the mail after I filled my 2017 tax return through turbotax. Do I need to report that in my taxes? If yes, what needs to be done.