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?
021994
2 Replies
NCperson
Level 15
Jul 10, 2023 7:15:38 AM
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.
Critter-3
Level 15
Jul 10, 2023 7:38:46 AM
Should I enter this as an IRA contribution?
No...it was Not a contribution...it was a ROLLOVER.