You'll need to sign in or create an account to connect with an expert.
Only IRAs issue Forms 5498. Your 457(b) plan is not an IRA. Nothing regarding your 457(b) plan is to be entered when TurboTax asks for the year-end balance in your traditional IRAs.
The year-end balance in your traditional IRAs is just that, the sum of the FMVs of your traditional IRA accounts on December 31.
Only IRAs issue Forms 5498. Your 457(b) plan is not an IRA. Nothing regarding your 457(b) plan is to be entered when TurboTax asks for the year-end balance in your traditional IRAs.
The year-end balance in your traditional IRAs is just that, the sum of the FMVs of your traditional IRA accounts on December 31.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
CluelessCamper
Level 1
jschoomer
Level 3
fpho16
New Member
EKrish
Level 2
hbmama
New Member