- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Form 1099-R reports distributions from your retirement accounts while form 5498 reports contributions to your retirement accounts.
In general, numbers in both forms are different as they come from different sources.
One case where you can "reconcile" numbers in the 2 forms is when you roll over an account such as a 401(k) into another account such as an IRA. In this case you will receive a 1099-R from the 401(k) administration for the distribution and a form 5498 form the administrator of the IRA for the contribution and they report the same amount.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 26, 2021
7:34 AM
711 Views