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Retirement tax questions
Form 5498 is for informational purposes only. You are not required to file it with your tax return. Form 5498 is not sent out until May, since you can contribute to an IRA for the previous year through mid-April. Most people will have finished your taxes before they receive this form.
RMDs are entered as part of entering your Form 1099-R. Once you reach age 72 you are required to take annual Required Minimum Distributions (RMDs) from your retirement accounts. If you are 72 or older, TurboTax will ask you about your RMD in the 1099-R entry section.
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‎January 19, 2022
4:27 PM