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Are Form 5498 RMD deductions entered into TurboTax?

 
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PaulaM
Expert Alumni

Are Form 5498 RMD deductions entered into TurboTax?

You won't enter a Form 5498 for your IRA directly anywhere in TurboTax. Keep for your records.

If you took RMD, then those distributions should be reported on Form 1099-R.  Answer RMD questions in this section. To enter a 1099-R:

  • In your open return, select My Account
  • Tools
  • Topic Search
  • Type 1099-r in the box, then select GO

https://turbotax.intuit.com/tax-tools/tax-tips/Taxes-101/What-Is-IRS-Form-5498-/INF14779.html

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
PaulaM
Expert Alumni

Are Form 5498 RMD deductions entered into TurboTax?

You won't enter a Form 5498 for your IRA directly anywhere in TurboTax. Keep for your records.

If you took RMD, then those distributions should be reported on Form 1099-R.  Answer RMD questions in this section. To enter a 1099-R:

  • In your open return, select My Account
  • Tools
  • Topic Search
  • Type 1099-r in the box, then select GO

https://turbotax.intuit.com/tax-tools/tax-tips/Taxes-101/What-Is-IRS-Form-5498-/INF14779.html

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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