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- How do I report an IRA rollover contribution?
How do I report an IRA rollover contribution?
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msindc1
Level 4
12-23-2021
08:51 AM
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Client received a Form 5498 that reports a small rollover to an IRA. How do I report that in Lacerte?
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qbteachmt
Level 15
12-23-2021
11:08 AM
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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.
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