You do not report the correction of RDM for 2023 on the 2024 Form 5329. All you need to do is enter the 2024 Form 1099-R for the distribution.
Please make sure you only enter in the follow-up RMD question the RMD amount for 2024:
- Click on "Search" on the top right and type “1099-R”
- Click on “Jump to 1099-R” and enter your 1099-R
- On the "Required Minimum Distribution" screen enter RMD for 2024 for this account
- On the "How much of This Distribution Applied to your December 31, 2024 RMD" select "The entire distribution applied…" / or select "Some of this distribution…" and enter the RMD amount applied for 2024 (if this distribution includes RMD for other IRA accounts then you included the amount here)
- On the "Your 1099-R Entries" screen click "Continue"
- Answer the "Transfer to Charity Screen"
- On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD" if you met all of your RMD for 2024.
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