Since the Form 1099-R will have code 4 in box 7, no Form 5329 Part I is needed
to report the distribution and TurboTax will not generate one for this.
If your parent died in 2016 and had not completed their 2016 RMD, if any, or if your parent died before 2016 and you were required to take a distribution in 2016 as beneficiary, you must complete Form 5329 Part IX to report the missed RMD. We can elaborate on the requirements for making the late RMD
distribution and requesting a waiver of the 50% excess accumulation
penalty on Form 5329 Part IX if you let us know:
- the year in which your parent died,
- whether or not your parent died before April 1 of the year following the year in which your parent reached, or would have reached, age 70½, and
- whether or not you received any distributions from this account in 2016.
