dmertz
Level 15

Retirement tax questions

There is no need to wait to do the 2013, 2022 and 2023 Forms 5329 Part IV.

 

I made a mistake in my previous post.  Because the correction of the 2021 though 2023 excess occurred in 2025, this distribution will go on your 2025 Form 5329 IV not your 2024 Form 5329.  Part IV of your 2024 Form 5329 will still show these excesses subject to penalty for 2024.  The 2025 distribution to correct these will be on a code J Form 1099-R that will be reportable on Part III of your 2025 Form 8606.  I'll correct my previous post.