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Ann-K
Level 1

When to amend 2018 Fed and State returns (which have been accepted) due to incorrectly labeling an RMD from a beneficiary IRA? The correction will lower both refunds.

Our Federal and State (CA) returns have been accepted, but refunds not yet received.  Although I did enter code 4 "death", in box 7 when entering the 1099-R for the RMD from this beneficiary IRA, I missed the question in the interview which asked whether the distribution was inherited from someone.  So the RMD from the beneficiary IRA showed up incorrectly on form 8606.  Now that I've corrected this, our refunds (both Federal and State) will be lower by several hundred dollars.  I'd love to correct this before getting the refunds, if possible.  But what's the best way to proceed? 

1 Best answer

Accepted Solutions
MichaelL1
Level 15

When to amend 2018 Fed and State returns (which have been accepted) due to incorrectly labeling an RMD from a beneficiary IRA? The correction will lower both refunds.

Amended returns have to be printed, dated, signed and mailed in.

I would do this and make any payment of additional tax by April 15th to avoid any interest.

It is April 5th today so give IRS another week and then send in the Amended return around April 12 or 13th just to be safe.

As long as it is postmarked April 15th is all that matters with IRS actually, I just don't want to get caught at post office on April 15th.

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1 Reply
MichaelL1
Level 15

When to amend 2018 Fed and State returns (which have been accepted) due to incorrectly labeling an RMD from a beneficiary IRA? The correction will lower both refunds.

Amended returns have to be printed, dated, signed and mailed in.

I would do this and make any payment of additional tax by April 15th to avoid any interest.

It is April 5th today so give IRS another week and then send in the Amended return around April 12 or 13th just to be safe.

As long as it is postmarked April 15th is all that matters with IRS actually, I just don't want to get caught at post office on April 15th.

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