Skip to main content
February 24, 2024
Solved

Roth IRA fair market value: where to declare it or does it need to be declared?

  • February 24, 2024
  • 1 reply
  • 0 views

After almost completing all input to TurboTax (including importing everything from Fidelity), I received a "corrected" 5498 form with a revised box 5 (fair market value) on my Roth IRA.  I can't find the FMV of the Roth IRA anywhere in the TurboTax program/forms.  Is the FMV of a Roth something that is anywhere in your Federal or State (Michigan) tax forms?  I understand I must retain the 5498 but do I need to "correct" anything?  TIA

    Best answer by AnnetteB6

    No, the fair market value of your Roth IRA is not needed on any of your tax forms.  There is nothing that you will need to correct.  

    1 reply

    AnnetteB6Answer
    February 24, 2024

    No, the fair market value of your Roth IRA is not needed on any of your tax forms.  There is nothing that you will need to correct.  

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"