☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Jun 4, 2019 4:21:49 PM

I contributed to my 457B plan. Why did I not get the 5498 form?

Also, the ending balance amount to be entered for my traditional IRA refers to what I contributed for the year or does it refer to the total amount I have contributed throughout the years?

0 1 881
1 Best answer
Level 15
Jun 4, 2019 4:21:51 PM

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.

1 Replies
Level 15
Jun 4, 2019 4:21:51 PM

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.