Form 5498

Tax Slayer entry:

Federal Section > Deductions > Adjustments > IRA Deduction

Box 2:

  • [TSQuestion]If a rollover contribution, check the box on line 15b of Form 1040 page 1, write an explanation, and do not enter data in the IRA Deduction page. (This may have been taken from another IRA the previous year and recorded as a rollover.)

Box 12, 12a:

  • Used to report RMD taken. No need to enter this data.
  • If there is a need to verify the RMD amounts among several IRAs, see the RMD distribution table.