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tjmatt90
New Member

Do I enter the rollover contributions on Form 5498 Box 2 as contribution?

My 401k was transferred to a safe harbor IRA. I received Form 5498, with an amount in Box 2 (Rollover Contribution). Should I enter this as an IRA contribution?
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2 Replies

Do I enter the rollover contributions on Form 5498 Box 2 as contribution?

Form 5498 is not entered into your tax return. it is for your information only.  

 

you will receive a form 1099-R to reflect the transaction.  THAT should be entered into your tax return.  

 

 

 

 

Do I enter the rollover contributions on Form 5498 Box 2 as contribution?

Should I enter this as an IRA contribution?

 

No...it was Not a contribution...it was a ROLLOVER. 

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