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Normally, taxation is quite cumbersome. The importance of the event puts some stress on the individual, and completing the form can be challenging. Every character in the Form 5498 sa for 2024 matters at such a critical moment, so completing a printed out form might take much more time and effort than an electronic one. To make this process more efficient, use DocHub and complete your tax year easily.

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2022 4.3 Satisfied (30 Votes)
2021 4.8 Satisfied (222 Votes)
2020 4.4 Satisfied (62 Votes)
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You dont need to enter information from your Form 5498 (IRA Contribution Information) into TurboTax like you do with a W-2 or 1099s. In most cases, youll find the info needed for your return on other paperwork, such as a year-end summary statement or a Form 1099-R.
Where does Form 5498-SA go on a tax return? Participants of an HSA, Archer MSA or MA MSA do not have to file Form 5498-SA with their individual income tax return. However, if distributions from any of these accounts were taxable, they should be noted on Schedule 1 of Form 1040, Part I, line 8e.
You wont get a 5498-SA form if you didnt have contributions and your balance was zero dollars at the end of the year. You must report contributions from your HSA on IRS Form 8889. Get 5498-SA information in the If I dont have a 5498-SA, how can I get my contributions by tax year? question below.
Form 5498 IRA Contribution Information is information for your personal records and is not required to prepare your tax return. Taxpayers should retain this information for their personal records, but there are no tax consequences to the taxpayer until the funds are distributed from the account.
Sign in to your TurboTax account. Open or continue to your return. In the search bar, type ira contributions and select the Jump to link in the search results. Well take you to the Traditional IRA and Roth IRA screen, where you can start the IRA interview.
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Form 5498: IRA Contributions Information reports to the IRS your IRA contributions for the year along with other information about your IRA account. Your IRA custodiannot youis required to file this form with the IRS, usually by May 31. You wont find this form in TurboTax, nor do you file it with your tax return.

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