A Form 5498 is an informational form only. It is not entered on a tax return.
What are you trying to do on the 2024 tax return concerning an IRA?
Thank you for the comment. TurboTax is asking for the values of traditional IRA, SEP, and SIMPLE IRA accounts.
"Enter any outstanding 2024 rollovers and recharacterizations that were not completed until 2025."
Now, I'm not sure why this question is being asked given that Form 5498 is an informational form only ?!
@momo20 Not sure why that would be asked if you are only entering your 2024 IRA contributions. Is that what you are trying to do?
Yes. Not sure if it's related, but we had an inherited IRA account that we sold in 2024. Could it be because of this?
If you know the year end values or other questions being asked here, enter the information from your own records.
If you feel that you need the 5498 to answer these questions, file an extension (but pay any tax you may owe now) by April 15, 2025. You will then have until October 15, 2025 to complete and file your tax return.
How to file a federal tax extension.