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Lynneme1
New Member

My employer submitted my Roth IRA contribution on a 1099-MISC form.

My employer submitted my IRA information on a 1099-MISC form.  The investment company sent me a Form 5498. Do I submit the information on my return twice?

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4 Replies

My employer submitted my Roth IRA contribution on a 1099-MISC form.

A Form 5498 is an informational form only.  It is not entered anywhere on a tax return.

Lynneme1
New Member

My employer submitted my Roth IRA contribution on a 1099-MISC form.

The 1099 MISC form shows the contribution as miscellaneous income.  I've entered the amount from the the 5498 on my return, do I still have to include the amount again as miscellaneous income?

My employer submitted my Roth IRA contribution on a 1099-MISC form.


@Lynneme1 wrote:

The 1099 MISC form shows the contribution as miscellaneous income.  I've entered the amount from the the 5498 on my return, do I still have to include the amount again as miscellaneous income?


No.  The Roth IRA contribution is only entered once.

 

To enter a 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)
  • Scroll down to Retirement and Investments
  • On Traditional and Roth IRA Contributions, click the start or update button

Or enter ira contributions in the Search box located in the upper right of the program screen. Click on Jump to ira contributions

My employer submitted my Roth IRA contribution on a 1099-MISC form.

Huh?  Why did your employer give you a form for your contribution?  Talk to your employer.  A 1099Misc is totally wrong. Or did they include it in your income or give you the money to make the contribution?

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