You must include Form 5329 Part IX with your tax return. You must not mail it separately.
Take the late RMD as soon as possible, before you file your tax return. In TurboTax:
- Click the Continue button on the Your 1099-R Entries page.
- Indicate that you did not receive all the RMD for 2019.
- Enter the total amount required to be taken and the amount you actually received.
- Verify that the amount that TurboTax indicates as the amount that on which you want the 50% excess accumulation penalty waived is the same as the amount that you will now have taken late. and provide an explanation as to why you took the distribution late at that you have now taken the RMD, albeit late. ("I forgot" is probably sufficient reasonable cause. The IRS mainly seems to want to know only that taking it late was not intentional.)
TurboTax will include in your e-filed tax return the explanation and the Form 5329 requesting the waiver of the penalty.
The late-taken RMD will be taxable on your 2020 tax return along with your 2020 RMD.
