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New Member
posted Feb 15, 2022 12:03:21 PM

Where do I put information reported on Form 5498 document from financial firm?

How do I report on my tax return the information reported on Form 5498 document from the financial investment group holding the account.

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3 Replies
Level 15
Feb 15, 2022 12:08:40 PM

Nowhere.  Form 5498 is information only to you.

 

If you made IRA contributions then those are reported in the IRA contribution interview.  If you had a distribution then that is reported on a 1099-R.

New Member
Feb 18, 2022 9:55:30 AM

I changed brokerage firms for my traditional IRA and received Form 5498, do I need to report this on my taxes?

Level 15
Feb 18, 2022 9:56:51 AM


@ronz10j wrote:

I changed brokerage firms for my traditional IRA and received Form 5498, do I need to report this on my taxes?


A Form 5498 is an informational form only.  It is not entered on a tax return.