Enter value of traditional IRA

[bbloy]

TT is asking for the 2022 year-end value of IRAs, but this has no bearing on our taxes.  We are not in RMD category yet.  TT states that this will come on form 5498 which is not correct...we get a 5498 only if there are contributions or distributions during the year.

[DanaB27]

You can find the year-end value on your IRA statement. TurboTax is asking for the value in various sections. One is in the IRA contribution section to calculate the excess contribution penalty on Form 5329, and another time when you are in the retirement section entering a distribution or conversion and had a basis in the Traditional IRA (for Form 8606).

[bbloy]

I know what my IRA balance is and where to find it. 

I repeat that TT is giving incorrect information when telling people they will have a 5498 form.   And also that this information is not needed unless you contribute or distribute from your IRA.

[BillM223]

You said, "TT is asking for the 2022 year-end value of IRAs, but this has no bearing on our taxes." Since we in the Community cannot see your private tax data, we would have no way to know if it had "no bearing on your taxes" or not.

So Dana very reasonably gave you two situations in which TurboTax might ask you for the value of the IRA accounts.

You said, "TT is asking for the 2022 year-end value of IRAs". Will you tell us where this request appeared in the TurboTax interview? Did it appear in the Federal Review? Did it appear in the 1099-R interview?