Retirement tax questions

You will report only what was taken for 2018.

You will take the RMD by 4-1-2019 which you did.

Then you will ask for a wavier of the penalty on the tax return for not taking the RMD.

You have received form 1099-R for some IRA RMD, please enter the form information and go through the questions. 

You will be asked if you have met RMD requirements, what is the required amount and actual amount received.

If not all is taken, Turbo Tax will ask to type in explanation where you can show the reasonable error and what steps were taken to fix it.

TurboTax will generate a Form 5329 that will be attached to the return.

IRS often allows a waiver of the penalty if reasonable steps are taken to fix it (which you did) and it was a broker error.


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