Form 5498

Forum|Forum|1 year ago
February 8, 2025
4 replies
7 views

Hello,

Where do i report (enter) the information from Form 5498 in Professional Tax software?

Thank you

anthony

ProSeries Professional

This topic has been closed for replies.

T

TaxGuyBill

Level 15

What information is your 5498 reporting?

sjrcpa

Level 15

And what do you think you need to enter?

The more I know the more I don’t know.

J

jasontranAuthor

Level 4

The amount that was rollover contribution from IRA

IRonMaN

Level 15

Sometimes the search function here does actually work:

https://accountants.intuit.com/support/en-us/help-search?filter=ProSeries+Basic&filter=ProSeries+Professional&advanced=false&allow_punctuation=false&filter=location&location=category%3A303&q=where+to+enter+form+5498&uid=m6wko1pv

Slava Ukraini!

qbteachmt

Level 15

Form 1099-R is for the money Out. This would be issued for a reportable event.

Form 5498 is for the money In. You use that as Due Diligence for what a taxpayer client tells you happened and for which tax year it happened in. It's not reportable. Use it to verify.

Don't yell at us; we're volunteers

ljr

Level 9

you don't - look for the matching 1099-R or if trustee to trustee there might not be one

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