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You will get Form 1099-R from the IRA administrator. You will report this as income on line 15 of Form 1040. If any taxes are withheld, report on line 64 of Form 1040. You may also need to file Form 5329 to report tax on early withdrawals, excess contributions, and insufficient distributions.
Form 5498: IRA Contributions Information reports your IRA contributions to the IRS. Your IRA trustee or issuer â not you â is required to file this form with the IRS by May 31. You won't find this form in TurboTax, nor do you file it with your tax return.The copy you receive in the mail is a copy for your records.orm 5498: IRA Contributions Information reports your IRA contributions to the IRS. Your IRA trustee or issuer-not you-is required to file this form with the IRS by May 31.