taitcyrus
New Member

Bug: TurboTax Deluxe 2025 regarding form 5498

TurboTax has a page with the following on it:

vvvvvvvvvvvvvv

Traditional IRAs
Enter the total value of all of your 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.
^^^^^^^^^^^

which is VERY unclear. I did not receive form 5498 so I called the company managing my IRA and they said that form 5498 is ONLY for "contributions" made to an IRA during 2025 (Googling confirms this). Since I'd not made any contributions, I received no form.

The phrasing of the above in TurboTax implies that what is wanted is the current valuation of my IRA at the end of 2025 (how much was my IRA worth at the end of 2025) which has nothing to do with form 5498. So I've put in $0 as my answer, but I'd recommend that the phrasing in TurboTax on this page but updated to mention 'contribution in 2025' to make it crystal clear that the questions about 'contributions' to or changes to my IRA