I received a form 5498 for my IRA, but do I still need a 1099-R to be able to report it on my taxes?

[LeeM · Accepted solution]

You don't need to enter information from your Form 5498 (IRA Contribution Information) into TurboTax. You should keep Form 5498 with your records for future reference when you need to determine the end of year value or your investment basis in non-deductible or Roth IRAs.

As long as you didn't have a distribution from your IRA or have a "rollover" to another retirement plan, you will not receive a 1099-R.

[susa1949]

I put it in a new account but now shows I owe 17K in tax, what can I do?