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June 6, 2019
Question

Where do i enter information from form 5498

  • June 6, 2019
  • 1 reply
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I sold some of my IRA in 2016 and re-invested it a month later.  so I am wondering why I added it as sold but not adding it as re-invested to zero out the tax ramifications?

1 reply

MichaelL1
Employee
June 6, 2019

The 5498 is an information document and does not get entered in TurboTax.  

If the stock sale took place within the IRA, it is not reported on the return.  Anything that takes place within the IRA, has no tax impact.  What matters with an IRA is when money is put in, and when money is taken out.

If you took money out, you would have a 1099R and that does get entered in TurboTax.