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Where do I enter my traditional IRA contribution in TurboTax? I do not have a 1099 yet from the trustee.
I understand per one of the "TurboTax Help" notes that the trustee has until May 31 to send a Form 5498 to me and to the IRS.
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June 5, 2019
3:13 PM
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Retirement tax questions
I'll add a screenshot to the place to choose Federal.
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June 5, 2019
3:13 PM
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Retirement tax questions
To enter your traditional IRA contribution:
- On the left side of your screen, click Federal.
- At the top of your screen choose Deductions and Credits.
- Scroll down to Retirement and Investments.
- Click Start on Traditional and Roth IRA Contributions.
- Check that you contributed to a traditional IRA, and follow the rest of the prompts.
You won't get a 1099 from the trustee, because it's a contribution, not a distribution. You don't need Form 5498 to file your taxes. You would already have confirmation of your contribution from the IRA from when you made/make the contribution.
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June 5, 2019
3:13 PM
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Retirement tax questions
This question is based on using the paid-for TurboTax Deluxe program rather than the online free version.
June 5, 2019
3:13 PM
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Oh, I apologize! Your profile showed you using the Online Version. You will see the Federal Taxes tab on the top of your screen, but I'm sure you already know that!
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June 5, 2019
3:13 PM
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Retirement tax questions
Unfortunately, even though it is just a line entry I discovered it cam;t be done on the free version of Turbo Tax
March 27, 2020
10:18 AM