I rolled the balance of my retirement plan from my previous employer into a traditional IRA. How do I report the contribution as shown on my 5498? It looks like it wants to give me a credit.

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You should have received a 1099-R for the rollover from your retirement plan to a Traditional IRA. The 1099-R shows the amount of the distribution and has Code G in Box 7 to indicate that it is a rollover.

You do not use the form 5498 to report this information in your return.

No you do not receive a deduction for rolling over your retirement plan to a Traditional IRA.

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Do not report any of this under Deductions & Credits. The fact that TurboTax seems to be giving you a Retirement Savings Contributions Credit for this on Form 8880 implies that you mistakenly entered it under Deductions & Credits and you need to go back an remove it from there.