dmertz
Level 15

Retirement tax questions

"So if I am requesting the entire penalty be waited, and Line 54 is zero, then should I actually leave line 55 BLANK and the form is still correctly completed?"

 

Yes.

 

The distribution made in 2024 to complete the 2023 RMD will be taxable on your 2024 tax return (along with the RMD that you take for 2024), no explanation needed.