https://ttlc.intuit.com/community/taxes/discussion/reconciliation-of-1099-r-and-5498/01/2136837#M769248 <P>How do I reconcile Forms 1099-R and 5498?</P> Fri, 26 Mar 2021 14:20:35 GMT AF61 2021-03-26T14:20:35Z https://ttlc.intuit.com/community/taxes/discussion/reconciliation-of-1099-r-and-5498/01/2136837#M769248 <P>How do I reconcile Forms 1099-R and 5498?</P> Fri, 26 Mar 2021 14:20:35 GMT https://ttlc.intuit.com/community/taxes/discussion/reconciliation-of-1099-r-and-5498/01/2136837#M769248 AF61 2021-03-26T14:20:35Z https://ttlc.intuit.com/community/taxes/discussion/re-reconciliation-of-1099-r-and-5498/01/2136896#M769272 <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Form 1099-R reports distributions from your retirement accounts while form 5498 reports contributions to your retirement accounts.</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">In general, numbers in both forms are different as they come from different sources.</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">One case where you can "reconcile" numbers in the 2 forms is when you roll over an account such as a 401(k) into another account such as an IRA. In this case you will receive a 1099-R from the 401(k) administration for the distribution and a form 5498 form the administrator of the IRA for the contribution and they report the same amount.</SPAN></SPAN></P> Fri, 26 Mar 2021 14:34:38 GMT https://ttlc.intuit.com/community/taxes/discussion/re-reconciliation-of-1099-r-and-5498/01/2136896#M769272 MinhT1 2021-03-26T14:34:38Z