TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 2

Question

form 5498

Forum|Forum|6 years ago
February 12, 2020
2 replies
3 views

I entered all info for 3 IRA's (2 traditional and 1 rollover) when I got to section for entering info for form 5498, it asked for info from both traditional IRA's but not rollover WHY? Ps; I did not enter any ifo for any of the IRA's regarding 5498 form, as turbo tax told me info was automatically sent to IRS

IRA

Level 15

When you roll over an IRA, it is not considered a new IRA contribution and won't be included on Form 5498.

Form 5498 is just an informational form and you are correct to not include it in your return!

Level 2

Even though form 5498 data may not need to be entered on the return, TurboTax needs to do a better job of explaining that within the basic IRA portion of the software

Level 15

Thanks for your feedback!

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Level 15

A "Rollover IRA" is a traditional IRA.