Creating Form 5498-ESA
- Click on the Payer List button.
- Double click on the payer name.
- Highlight the recipient to add the form to.
- Click on the Add Form button.
- Choose 5498-ESA from the Form Type drop down menu.
- 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.
- Click Save.