Don't enter form 5498 into TurboTax; your account custodian sends it to you for informational purposes only. We recommend that you keep it with your tax return records.
You would enter the 1099-R form and report that you rolled over $180,000.
On the What Did You Do With the Money From This Payer? screen, select the following options:
- I moved the money to another retirement account(or returned it to the same retirement account).
- I did a combination of rollover over, converting, or cashing out the money.
- Enter the amount rolled over.
[Edited 3-10-2020|6:42 am PST]
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