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ts21melvin
New Member

How is my IRA contribution reflected on my return and in my refund since I don't report my 5498? My 5498 was allegedly reported by Ameriprise. Thanks.

 
1 Best answer

Accepted Solutions
MichaelL1
Level 15

How is my IRA contribution reflected on my return and in my refund since I don't report my 5498? My 5498 was allegedly reported by Ameriprise. Thanks.

The 5498 is the FMV at 12/31/of year you are looking at and also lists contributions for the year.  You get a 5498 annually, regardless if you make an IRA contribution or not.

If you did make an IRA contrbution for the tax year, then you enter it as follows:

To enter IRA Contribution

 

Click on Federal Taxes (Personal using Home and Business)

Click on Deductions and Credits

Click on I'll choose what I work on (if shown)

Under Retirement and Investments

On Traditional and Roth IRA Contributions click on the start or update button

View solution in original post

3 Replies
ts21melvin
New Member

How is my IRA contribution reflected on my return and in my refund since I don't report my 5498? My 5498 was allegedly reported by Ameriprise. Thanks.

I failed to enter my IRA contribution on my tax forms and have already submitted my forms and received my refund, minus the amount I could have received from the IRA, of course.  Can I submit an amended form at this point?  What steps should I take if so?   Thanks!
MichaelL1
Level 15

How is my IRA contribution reflected on my return and in my refund since I don't report my 5498? My 5498 was allegedly reported by Ameriprise. Thanks.

go to this link to amend:<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/replies/5712039">https://ttlc.intuit.com/replies/5712039</a>
MichaelL1
Level 15

How is my IRA contribution reflected on my return and in my refund since I don't report my 5498? My 5498 was allegedly reported by Ameriprise. Thanks.

The 5498 is the FMV at 12/31/of year you are looking at and also lists contributions for the year.  You get a 5498 annually, regardless if you make an IRA contribution or not.

If you did make an IRA contrbution for the tax year, then you enter it as follows:

To enter IRA Contribution

 

Click on Federal Taxes (Personal using Home and Business)

Click on Deductions and Credits

Click on I'll choose what I work on (if shown)

Under Retirement and Investments

On Traditional and Roth IRA Contributions click on the start or update button

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