This year (2021) I discovered that my RMD was not sufficient. I filed out a form 5329 and mailed it the other day to the IRS. Today I contacted ML and requested a "corrected" 1099-r for 2021. They said no to my request since the shortfall funds were taken out in Jan. 2022 and the additional funds would show on my 2022 1099-r. My question is how to I precede from this point.
1- TT has a procedure to fill out a substitute (corrected) 1099-R & create a form 4852. I started that procedure.
2- How is this handled when it comes to 2022? My 1099-r will show RMD + the 2021 shortfall for a total greater than I would like.
4- Wouldn't that require me to pay taxes that I don't owe?
5-I just read in the discussions that you should not send in the 1099-r that ML generated if you fill out the 4852. Is this true and how does TT handle it?
I would prefer a corrected 1099-R which would be a much cleaner for filing. That’s not happening unless the IRS forces ML to send the corrected form.
