I received a 5498 because I retired and moved my 401K to a traditional IRA. I also received a year-end consolidated statement, which according to Turbo tax should be reported to the IRS. I did not receive a 1099R. I don't know where to enter the information from the year-end statement on Turbo tax.
Was the 1099-R included in the consolidated statement?
Was this a trustee to trustee transfer?
Note that you do not normally report information from a 5498 to TurboTax.
What is the year end statement from? Your 401K or the IRA account? Or personal investments outside of the 401K and IRA? Is it a consolidated 1099 tax statement?
If you have a consolidated tax statement. That will have sections for 1099-Int and 1099-Div and 1099B and maybe some other 1099s. You need to enter each section in the right place. So read it carefully and look for headings.... 1099-INT for interest or 1099-DIV for Dividends or 1099B for sales. I highlight each heading with a yellow highlighter to find them.
If you have any 1099B for investment sales you will need to use the Online Premium version. Or any Desktop CD/Download program.
I think the 1099R has to be a separate form and not part of the consolidated statement. If it was a direct trustee to trustee transfer you might not get a 1099R and you don't have to report it. If you can log into your old 401K account you might be able to download a copy of the 1099R. A lot of places have them posted online.
Thanks for answering. No, I did not receive a 1099R. The funds stayed with the investment company but was under a 401K while I was working but was transferred to a traditional IRA. when I retired. The entire amount was transferred to the IRA.
Thanks for answering. The year-end statement is from the investment company. My 401K was there when I worked but when I retired, it was transferred to a traditional IRA with the same company. All I received was the YE consolidated statement for the IRA and the 5498.