[{"data":1,"prerenderedAt":7},["ShallowReactive",2],{"faq-standard-1573":3},{"rec_id":4,"title":5,"text":6},"1573","Where do I enter Form 5498, Box 5 fair market value of account?","The Fair Market value of an IRA account is only needed for your tax return if you received an IRA distribution last year and made a nondeductible contribution in a prior tax year. If you did not get a \u003Ci>1099-R\u003C/i> reporting an IRA distribution or if you did not make a nondeductible contribution in a prior tax year, that information is not needed. \u003Cbr>\u003Cbr>If you did receive a \u003Ci>1099-R\u003C/i> with an IRA distribution and you made a nondeductible contribution in a prior year, you will need to enter more information. There will be a screen after the \u003Ci>1099-R\u003C/i> screen that asks for the basis of your IRA account and the fair market value of the account at the end of the year.",1777391591080]