jasontran
Level 4
02-08-2025
12:20 PM
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Hello,
Where do i report (enter) the information from Form 5498 in Professional Tax software?
Thank you
anthony
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TaxGuyBill
Level 15
02-08-2025
12:40 PM
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What information is your 5498 reporting?
IRonMaN
Level 15
02-08-2025
01:13 PM
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Sometimes the search function here does actually work:
Slava Ukraini!
jasontran
Level 4
02-08-2025
01:33 PM
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the amount that was rollover contribution from the IRA
jasontran
Level 4
02-08-2025
01:34 PM
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The amount that was rollover contribution from IRA
sjrcpa
Level 15
02-08-2025
02:02 PM
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If they got a 1099-R for this use that. If it was a direct trustee to trustee transfer, there won't be a 1099-R and nothing to report.
The more I know the more I don’t know.
qbteachmt
Level 15
02-08-2025
02:25 PM
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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.
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