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dmuesse
New Member

Do I have to add in the current amounts that I am currently putting into my teacher retirement account?

Do I need to submit Forms 5498 forms?
1 Best answer

Accepted Solutions
MichaelL1
Level 15

Do I have to add in the current amounts that I am currently putting into my teacher retirement account?

They are already taken into account when the W-2 is entered.

The 5498 is an information document showing the Fair Market Value for when you do retire, and does not get entered on the tax return. 

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1 Reply
MichaelL1
Level 15

Do I have to add in the current amounts that I am currently putting into my teacher retirement account?

They are already taken into account when the W-2 is entered.

The 5498 is an information document showing the Fair Market Value for when you do retire, and does not get entered on the tax return. 

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