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Bill_the_Scrooge

Question

Is it useful to be able to enter IRS Form 5498 IRA Contribution Information into TurboTax each year so that the program can keep track of it?

Forum|Forum|10 months ago
May 14, 2025
1 reply
0 views

It would be convenient to have this information digitized in the data files for the relevant years instead of trying to preserve crumbling paper over a 50+ year period. I suppose the alternative is to scan it and include a pdf in the folder with the return.

TurboTax Online

Employee

TurboTax is not going to store your information or keep track of it for 50+ years.

Here are some options.

1. If you have online access to your IRA account you might be able to download a PDF of the Form 5498. The web site might even have a history of contributions.

2. Scan the form and save the PDF.

3. Keep your own record of contributions in a spreadsheet. This would probably be the most useful format if you need the information decades from now.