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kamas5
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I received a form 5498 IRA Contribution Information. I took money from a a retirement accountn when I retired and rolled it over into an IRA. There should be no tax. Does

Does the information on the 5498 get reported somewhere?
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I received a form 5498 IRA Contribution Information. I took money from a a retirement accountn when I retired and rolled it over into an IRA. There should be no tax. Does

The 5498 is an information document and does not get reported in TurboTax.

If you took money out of retirement account and rolled it over in 2016, you should be getting a 1099R that will need to be shown in TurboTax.  The rollover may not be taxable (depending if when from a Traditional 401K to a Traditional IRA), but still needs to be accounted for on your return. 

To enter pension and annuity Payments (1099-R)

  • Click on Federal Taxes (Personal using Self-Employed)
  • Click on Wages and Income (Personal Income using Self-Employed)
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Retirement Plans and Social Security
  • On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

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