My head is spinning. Yes, I received a 2016 form 1099R for my first RMD. I will file this 1099R as a 'portion' of my first RMD and will then complete my first RMD by 4/1/2017. I also understand my second RMD is required by 12/31/2017. So, am I correct in assuming that, in 2017 I will receive a single 1099R which will contain both the remainder of my 2016 RMD and the total of my 2017 RMD ? My confusion is: 1) for my 2016 return will I be penalized for 50% of the unreported 2016 RMD balance ? 2) How do I separate out the 2016 and 2017 RMD and taxes to be reported on the 2017 1099R ?
I deeply appreciate the advise...
