TurboTax FAQ
TurboTax FAQ
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What is Form 5498, IRA Contributions Information?

Your IRA trustee or broker sends you Form 5498 just for your records, but they also send a copy to the IRS.

You don't need to enter information from this form into TurboTax.

Instead, enter your IRA contribution information from your year-end statement or 1099-R."

Tax Benefits of Contributing to an IRA

For information on the tax benefits of contributing to an IRA, see our TurboTax Blog.