@hoffyevan wrote:
Thanks. To clarify, I took 10% ($1000) of my $10,000 RMD in 2018 (and the remaining 90% in 2019). My understanding, which may be incorrect, was that my RMD in 2018 was anything I wanted from 0% to 100% of my total RMD. So would it make sense to keep the form 5329, and enter $1000 as my RMD? Then, for the 2019 form my RMD would be roughly $9k + $10k.
No. You do DO NOT keep the 5329. That form does NOT report a RMD at all, it reports a penalty for NOT taking the RMD if you were required to take one and you were not required to take one in 2018. The fact that you took part of it is immaterial for 2018 and will be reported in 2019 that you took all of the RMD. You report the $1,000 *distribution* in 2018. That is all that you report.
For 2018 you should have a 1099-R for the $1,000 that you answer the RMD question that you were not required to take a RMD in 2018.
For 2019 you will receive a 1099-R for the remaining $9,000 plus the 2019 RMD and answer the RMD question that it was ALL a RMD - and you are done. Nowhere do you need to enter the actual amount of the RMD or that part was taken in one year and part in the next year - that information does not go on a tax return.
You said: "...Then, for the 2019 form my RMD would be roughly $9k + $10k. .." Right, the remaining 2018 RMD plus the 2019 RMD. The 2019 1099-R box 1 amount will be the total of both.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
