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msindc1
Level 5
December 23, 2021
Question

How do I report an IRA rollover contribution?

  • December 23, 2021
  • 1 reply
  • 24 views
Client received a Form 5498 that reports a small rollover to an IRA.  How do I report that in Lacerte?
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1 reply

qbteachmt
qbteachmt
Level 15
December 23, 2021

You won't report a 5498. That's used to prove the money was received, and that is not reportable. It's part of the documentation you want to keep.

You will be reporting a 1099-R, which is issued from the broker or institution that gave away the funds.

Here:

https://proconnect.intuit.com/community/individual/help/individual-form-1099-r-frequently-asked-questions/00/4991

 

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