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Retirement tax questions
Since the money was paid in 2024, that is the only time you can report it and pay taxes on it.
For 2023, you need to report the missed RMD, and ask for a waiver of the penalty. Then on your 2024 taxes, you will get a 1099-R and you will report and pay tax on the total withdrawals from your IRA. Remember that you still need to take a 2024 RMD, since you are applying the first 2024 withdrawal toward 2023.
April 21, 2024
9:22 PM