Form 5498

[jasontran]

Hello,

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

Thank you

anthony

[TaxGuyBill]

What information is your 5498 reporting?

[sjrcpa]

And what do you think you need to enter?

[IRonMaN]

Sometimes the search function here does actually work:

https://accountants.intuit.com/support/en-us/help-search?filter=ProSeries+Basic&filter=ProSeries+Pro...

[jasontran]

the amount that was rollover contribution from the IRA

[jasontran]

The amount that was rollover contribution from IRA

[sjrcpa]

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.

[qbteachmt]

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.

[ljr]

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