- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
In that case, when you enter the Form 1099-R and indicate that your RMD was to be $15,000 from this account but the Form 1099-R shows only $13,500 in box 1, TurboTax will prepare 2024 Form 5329 and offer the option to request a waiver of the penalty on the late-taken $15,000. Be sure to take the late $1,500 as soon as practical before filing your tax return. That will then appear on your 2025 Form 1099-R along with your 2025 RMD.
‎February 17, 2025
5:01 AM