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April 13, 2022
Question

Received form 5498 but shortly afterwards IRA failed. Can I enter the 5498 amount into my return as a lose?

  • April 13, 2022
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1 reply

April 13, 2022

No, you do not enter Form 5498 on the return and you cannot deduct the loss.

 

To enter your IRA contribution:

 

  1. Click on "Search" on the top right and type “IRA contributions” 
  2. Click on “Jump to IRA contributions"
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