How am I supposed to enter my traditional IRA contribution information as of 31 December 2025, when I won't get my 5498 until mid-May?

Forum|Forum|4 months ago
February 14, 2026
3 replies
7 views

"Enter the total value of all of Michael's traditional IRA, SEP, and SIMPLE IRA accounts on December 31, 2025. This information is sent by mail on Form 5498. Do not include Roth IRAs." But of course I won't have a 5498 until mid-May. How is THAT supposed to work?

TurboTax Online

baldietax

Level 12

misleading prompt by Turbotax - presumably this is for 1099-R / Form 8606 - use your year-end statements per IRS Form 8606 line 6 instructions:

https://www.irs.gov/pub/irs-pdf/i8606.pdf

Enter the total value of all your traditional IRAs as of

December 31, 2025, plus any outstanding rollovers. A

statement should be sent to you by January 31, 2026,

showing the value of each IRA on December 31, 2025.

VolvoGirl

Level 15

The 5498 tells you the amount you need to take out for the RMD. Don’t know if it has the 12/31 balance on it. You need to look at your December 31 account statements which you should have received by now or you can look at your account online.

dmertz

Level 15

The needed balance is required to be present on the year-end statement for the traditional IRA.

NewDawn

Level 2

is "Traditional IRA" the same thing as a "Rollover IRA"?

DawnC

Level 15

Not exactly, but they are similar for tax purposes. A traditional IRA is a standard individual retirement account you fund with personal contributions. A rollover IRA is used to receive funds rolled over from an employer plan. Where do I enter my traditional or Roth IRA contributions?

@NewDawn

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