Retirement tax questions

First make sure going forward that the RMD is set for auto distribution for sometime mid December so you never have this happen again. 

 

Next ... the 5329 form will be mailed in separately from the return since you will not get a 1099-R for the distribution until next January ...   https://www.irs.gov/forms-pubs/about-form-5329

 

"Waiver of tax.   The IRS can waive part or all of this tax if you can show that any shortfall in the amount of distributions was due to reasonable error and you are taking reasonable steps to remedy the shortfall. If you believe you qualify for this relief, attach a statement of explanation and file Form 5329 as follows. 
1. Complete lines 52 and 53 as instructed.
2. Enter “RC” and the amount you want waived in parentheses on the dotted line next to line 54. Subtract this amount from the total shortfall you figured without regard to the waiver, and enter the result on line 54. 
3. Complete line 55 as instructed. You must pay any tax due that is reported on line 55.
  The IRS will review the information you provide and decide whether to grant your request for a waiver. "

 

 

OR ... since the IRS never seems to catch this error (30 years of personal experience + another 40 from a colleague) simply skip the filing of the 5329 ... and make sure you take the 2022 RMD timely and report both on the 2022 return.  

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