How do I create Form 5498-ESA?

Creating Form 5498-ESA

  1. Click on the Payer List button.
  2. Double click on the payer name.
  3. Highlight the recipient to add the form to.
  4. Click on the Add Form button.
  5. Choose 5498-ESA from the Form Type drop down menu.
  6. Fill in the necessary fields on the form:
    • Corrected:  Check if this box applies.
    • Coverdell ESA contributions:  Enter contributions to the recipient’s Coverdell Education Savings Account.
    • Rollover contributions:  Enter rollover contributions made to the Coverdell ESA.
    • Account Number:  A number assigned to recipient by the payer.  This field is optional except for the following cases:
      • The recipient has multiple returns for the same return type.
  7. Click Save.  
Was this article helpful?
0 out of 0 found this helpful