RichardG
New Member

Retirement tax questions

You should report the missed RMD on your late father's final return by filing Form 5329, Part IX.  There is no interview in TurboTax for missed RMDs in the program, so you'll need to prepare the document in forms mode.  If you're not familiar with working in forms mode, please let me know and I'll point to some instructions for that.

Fortunately, you can request a waiver from the penalty, and the IRS has historically been generous in granting the waiver.  Please read the instructions to Form 5329 for more information.  https://www.irs.gov/pub/irs-pdf/i5329.pdf

Since you won't receive the payment until this year, you should not report it on your 2015 tax return.  You may also need to take your own RMD this year, which is separate from your father's 2015 RMD.

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