This is driving me crazy. My wife turned 72 in June of 2023 and will (obviously!) turn 73 this coming June. She rolled over her 457 to an IRA CD in summer 2023. We received the 1099-R from our financial institution and it listed $5000 as distribution. Is that being counted as income on our 2023 taxes? We have not taken the distribution and thought we did not need to take it until this year (2024) when she turns 73. Can it be taxable income when we haven't taken the distribution? If it's taxable income, will it be taxable income on our 2024 taxes? Was our financial institution supposed to inform us earlier when we needed to take the distribution? We thought we didn't need to take the 2023 RMD until this calendar year and that we would be taxed on it for our 2024 tax year. Arrrrrgh.
