The 5498 is the FMV at 12/31/of year you are looking at and also lists contributions for the year. You get a 5498 annually, regardless if you make an IRA contribution or not.
If you did make an IRA contrbution for the tax year, then you enter it as follows:
To enter IRA Contribution
Click on Federal Taxes (Personal using Home and Business)
Click on Deductions and Credits
Click on I'll choose what I work on (if shown)
Under Retirement and Investments
On Traditional and Roth IRA Contributions click on the start or update button
