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Withdrawing a late RMD
I inadvertently did not take an RMD from an IRA. I plan to ask the investment company to withdraw the amount I was required to take in 2021. I plan to ask them to write a check to a charity rather than to me, so it will be a direct transfer and I will not take possession of the money. If I explain why I did not take the RMD in 2021 to the IRS, will the IRS consider this a corrected RMD action and apply this withdrawal to 2021 and will I be able to avoid any taxes on this withdrawal for 2021, or will this just be considered a normal withdrawal (not an RMD withdrawal) for the year 2022) and the charity gift a regular charity gift?. Is there a different way I can handle this situation?
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March 7, 2022
12:01 PM