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I closed my pension and rolled it into an IRA. I received a 5498 form. I need to enter this while completing my 2023 taxes correct?

 
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1 Reply
BillM223
Expert Alumni

I closed my pension and rolled it into an IRA. I received a 5498 form. I need to enter this while completing my 2023 taxes correct?

No, the 5498 is for your records only. You do not enter anything from the 5498 into TurboTax.

 

It was enough to enter the 1099-R, if you got one. If not, don't worry about it since trustee to trustee transfers are generally not reported on a 1099-R.

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