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Get your taxes done using TurboTax
To avoid penalty on missed RMD, you need to:
Take the RMD as soon as possible.
File the 2023 IRS Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts.
Report the missed RMD by completing the lines 52 & 53 on Form 5329. in TurboTax enter the amount in box A for the amount of the missed RMD you're requesting a waiver
use the link to enter an explanation stating your case for why the penalty should be waived. You forgot is probably not a reasonable cause.
March 2, 2024
1:33 PM