Trad IRA Value

The value will be present on your year-end statement available from your IRA custodian.

Thanks for the reply,

I do understand that I can add up totals from my year end statements and get a total for my Traditional IRAs. But why is it that totals from the year end statements don't match what Form 5498 shows. So, I wonder if I should leave the field blank in Turbo Tax, use the total from my year end statements, or use the figure provided on the Form 5498 when it arrives in May. I lean towards leaving it blank. I don't know that I want to record any more than what is being provided to the IRS which is the figure on the Form 5498.

I'm not sure what I am getting by recording the information in Turbo Tax.

Any thoughts?

you must report the total value of all IRA, SEP and SIMPLE accounts.

If you did nothing in an account you would not get any 5498.

If you've been filing based on incomplete 5498 documents in the past, you've been doing it wrong.

"But why is it that totals from the year end statements don't match what Form 5498 shows."

That's a question for your IRA custodian.  The value shown on a December 31 statement should match what is in box 5 of the Form 5498 for that account.