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rossorsak
Level 2
February 5, 2020
Question

How can I account for my contributions made into an IRA without my 5498 form? This is in attempt to meet the 60 day rule for some of my distributions and avoid that fee.

  • February 5, 2020
  • 1 reply
  • 14 views
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1 reply

MarilynG
MarilynG
Level 15
February 5, 2020

When you enter your 1099-R indicating a Distribution from a Retirement Account, the follow-up questions in TurboTax will ask if you rolled over all of part of the distribution within 60 days, so pay close attention to your entries here. 

 

The Form 5498 is for your information only and is not required to be entered in TurboTax.

 

Click the link for more detailed info on Form 5498

 

 

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R
rossorsakAuthor
Level 2
February 19, 2020

The follow up questions after inputting my 1099-R did not ask if I rolled any over (or replenished those funds) within 60 days. I was only asked if I paid back Hurricane Funds in 2016 and 2017, and if I used this money for significant or tragic occurrences, to try and reduce my penalty. Any extra help would be much appreciated!

MaryK4
MaryK4
Level 15
February 19, 2020

Look for the page as below:  Select you moved the money to another retirement account. @rossorsak

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