Yes. You can efile form 5329 1099-R when you missed your RMD withdrawal date. At least it can be done on Turbotax Premier CD/Download version. Assuming that you have completed the RMD before filing the returns for the previous year and have the amount and any state tax amounts involved in the withdrawal as normal.
When entering Fed Income section/Retirement Plans and Social Security section:
1-Enter the withdrawal amounts in a 1099-R table as if it were completed in the previous year by December 31.
2- Enter "continue" and follow the prompts until you come to a screen that says "Tell us more about this Retirement Plan Distribution". You will then see three choices to select from.
O Received all of the RMD for 2022.
O I did not receive all the RMD for 2022. (It should be worded "IN" 2022 instead of "for" to be more clear.)
O I was not required to take an RMD for 2022.
3- Select the second choice "I did not receive all....."
4- Enter "continue" and Turbotax will prompt with a screen which will acknowledge that they will solve this problem for you and will then provide a screen for you to type your explanation to the IRS for why you were late in receiving your RMD.
5- Enter "continue" and Turbotax will automatically add and fill in for you form 5349 which you will not see unless you go to "Forms" and the 5329 form will appear with the last section f of the form filled in.
6- Voilla.....All late RMD paperwork will be included in your efiled return without you having to manually print and mail in any returns or form 5329. Not real clear on instructions from TT but once you fill in the 1099-R the process will be pretty smooth. Who knew? Even a TT representative on the phone could not answer this question on dealing with a late RMD, so I just started filling out the 1099-R anyway and this is what I found out. Hope this helps.
