☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 3
posted Mar 11, 2025 4:50:41 PM

Form 5329 Needed but Not Available in TurboTax Business Desktop

I failed to take the 2024 RMD for an IRA held by a Trust.  How an individual taxpayer should handle this is explained in this thread:

 

https://ttlc.intuit.com/community/retirement/discussion/i-missed-taking-out-2024-rmd-distribution-what-is-the-remedy/00/3414928

 

There it says form 5329 must be filed and in TurboTax Deluxe desktop this is possible by adding the form manually in Form view.   When I try this in TurboTax business, form 5329 does not show as an option.   Any work-arounds?

1 3 2205
3 Replies
Expert Alumni
Mar 17, 2025 11:33:07 AM

I am going to assume you mean home and business for individual taxes. Let me show you the steps:

  1. Switch to forms mode
  2. Select Open Form
  3. Type in 5329 enter
  4. Then the federal will show the 5329 for Taxpayer (and Spouse, if on return)
  5. Select / highlight the one you need
  6. Select Open Form
  7. Scroll down to Part IX
  8. Fill it in 
  9. Scroll down to waiver request box
  10. Enter amount to waive
  11. Select explain box
  12. Request waiver of amount and explain corrective action taken and reason for issue.

 

 

 

 

 

 

 

 

New Member
Apr 13, 2025 3:11:23 PM

Thank you for the guidance. However, why would this NOT be 52b or 53a?

Expert Alumni
Apr 17, 2025 1:56:23 PM

In the text of the Explanation Statement, you can refer to the line where the missing RMD amount appears. The QuickZoom link pre-fills the header of the statement for you (Line 54b).