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Returning Member
posted Feb 8, 2021 12:43:23 PM

2019 Form 5498 received in 2020

I received a 2019 Form 5498 from my financial institution this past year (2020). What is this form? Do I need to report this form or is it already sent to the IRS by my financial institution? 

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1 Replies
Expert Alumni
Feb 8, 2021 1:21:46 PM

5498 is an informational form that the IRA administrator sends to you and copies to the IRS. You do not enter it into TurboTax. Just put it in your tax file.