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Business & farm
The ending balance is not reported to the IRS. You are asked the question to determine if your distribution is taxable so it can be accounted for properly on your tax return. The IRS does not keep track of your required minimum distribution (RMD), you are simply required to report any deficiency in taking your RMD in any year in which it occurred. So, you don't need to report your RMD paid in 2024, since you aren't deficient in that year.
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‎February 23, 2025
9:58 AM