turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

19341
Returning Member

Where do I file Form 5498

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies

Where do I file Form 5498

You don't enter a 5498 for IRA or retirement plans.  That is just for your own info.   Why did you get it?  You might need to enter a IRA contribution you made.  

Where do I file Form 5498

You don't send the form to the IRS, it is only for your records.

 

If you made IRA contributions, you are required to list those on your tax return.  Since returns are due in April (or May, this year), but brokers are not required to send the 5498 until after the regular tax deadline, you have to put your IRA contributions on your tax return based on your other financial records.

 

If if turns out that the information you put on your return was wrong, and does not match the 5498, you may need to file an amended tax return.  However, if the information matches your tax return, just file it with your other important tax papers, which you should be keeping for at least 3 years. 

19341
Returning Member

Where do I file Form 5498

Thank you as I called the broker and learned that the government allowed that account to NOT be entered on the tax return even though I received the money.

Where do I file Form 5498

@19341 

That does not make sense. Form 5498 is issued when you make contributions. If you receive a distribution or a withdrawal, that is reported on a 1099-R.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies