What is a 5498 and do I need to report it?
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sherajay
New Member

What is a 5498 and do I need to report it?

My Statement says I will not receive this in January but May of 2016 I am confused by this. Do I need to report the gain or not?
1 Reply
BarbL
Employee Tax Expert

What is a 5498 and do I need to report it?

You do not report the Form 5498 on your tax return.  Your IRA trustee or issuer – not you – is required to file this form with the IRS by May 31. You won't find this form in TurboTax, nor do you file it with your tax return. The copy you receive in the mail is a copy for your records.

More info can be found here:

https://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Forms/What-Is-IRS-Form-5498--IRA-Contribution...



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