Updated September 29, 2026. Quick answer: Box 1 of Form 5498 is the amount of traditional IRA contributions designated for the year. It runs through the April 15 filing deadline of the following year, so it can include money you contributed after New Year. It is not a deduction figure.
What goes in Box 1
The IRS instruction to the IRA trustee reads: “Enter contributions to a traditional IRA made in 2026 and through April 15, 2027, designated for 2026.” The instructions read here are the 2026 edition of the IRS Instructions for Forms 1099-R and 5498, which cover Form 5498 for 2026 and are written for the IRA trustee or issuer that files it. The participant copy of the form describes the same box in reader terms as “Shows traditional IRA contributions for 2026 you made in 2026 and through” April 15, 2027.
Gross, and including excess contributions
The trustee reports the gross figure. The instructions say to include “any excess contributions, even if the excess contributions were withdrawn”. They also say that an excess contribution treated as a contribution in a later year is not reported again on that later year’s form, because it was already reported for the year it was contributed.
What the trustee reports in other boxes instead
Several contributions that sound like Box 1 money are put in different boxes. The instructions say: “Do not include employer SEP IRA contributions or SARSEP contributions under section 408(k)(6). Instead, include them in box 8.” Salary deferrals to a SIMPLE IRA go in Box 9 and Roth IRA contributions go in Box 10. On rollovers and conversions the instruction is “do not include in box 1 rollovers and recharacterizations (report rollovers in box 2 and recharacterizations in box 4), or a Roth IRA conversion amount (report in box 3)”. Those are on the Boxes 2, 3 and 4 page and the Boxes 8, 9 and 10 page.
What Box 1 does not tell you
Box 1 does not say whether the contribution was deductible. The IRS instruction is direct: “You are not required to provide information to the IRS or to participants as to whether a contribution is deductible or nondeductible.” Whether you can deduct it, or owe tax on anything, is decided on your own tax return; CMG’s Form 5498 page covers that side.
When the form arrives
The filing instruction is that the trustee must file with the IRS “by May 31, 2027”. For accounts other than SIMPLE IRAs the trustee must provide contribution information to you: “Contribution information for all other types of IRAs must be provided by May 31, 2027.” That is why a Form 5498 can reach you well after you have filed a return.
Common mistakes
- Treating Box 1 as the deductible amount. The trustee is not required to report deductibility.
- Assuming the year on the form is the year you paid. Contributions made by April 15 of the next year and designated for the prior year are included.
- Looking for a SEP or SIMPLE employer contribution here. Those are in Boxes 8 and 9.
Related: Form 5498 Boxes 2, 3 and 4: Rollovers and Conversions, Form 5498 Boxes 8, 9 and 10: SEP, SIMPLE and Roth, the IRA contribution limit, and whether you owe tax because of a Form 5498.
Every box in one place: the Form 5498 boxes table. A withdrawal from an IRA is reported on Form 1099-R instead; see the Form 1099-R Box 7 codes.
Figures verified against the IRS Instructions for Forms 1099-R and 5498 (2026 edition, posted as a draft proof dated June 18, 2026), the IRS Form 5498 participant copy and the IRS About Form 5498 page on September 30, 2026. No 2027 figures were announced on the pages read.
Sources
- IRS, Instructions for Forms 1099-R and 5498 (2026): https://www.irs.gov/pub/irs-pdf/i1099r.pdf
- IRS, Form 5498, IRA Contribution Information (2026), participant copy: https://www.irs.gov/pub/irs-pdf/f5498.pdf
- IRS, About Form 5498: https://www.irs.gov/forms-pubs/about-form-5498
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How our partner relationships workSource: the IRS instructions for the filer of Form 5498, read at irs.gov on September 29, 2026. General information, not tax advice. Your own facts decide the outcome, and a preparer, the account provider or the IRS is the right place to confirm anything consequential.