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Question

Form 5498 won't be ready before tax deadline

Forum|Forum|1 year ago
March 24, 2025
1 reply
0 views

Hi, according to my financial service provider, I won't be getting my Form 5498 until after 05/16/2025, which is after the 2024 tax date. What should I do?

Not A Product Question

Employee

A Form 5498 is an informational form only. It is not entered on a tax return.

What are you trying to do on the 2024 tax return concerning an IRA?

momo20Author

Thank you for the comment. TurboTax is asking for the values of traditional IRA, SEP, and SIMPLE IRA accounts.
"Enter any outstanding 2024 rollovers and recharacterizations that were not completed until 2025."

Now, I'm not sure why this question is being asked given that Form 5498 is an informational form only ?!

Employee

@momo20 Not sure why that would be asked if you are only entering your 2024 IRA contributions. Is that what you are trying to do?