Initial RMD taken in 2019, now more needed in 2020.
My wife turned 70 in May of 2019 (70 1/2 in Nov.) We calculated the various RMD amounts and withdrew the required sums (also withheld 10% for anticipated tax), all before the end of 2019.
In January we received notice that she also has a 5yr. IRA CD which matures on March 14, 2020 and is subject to an RMD for 2019 (a pleasant surprise!). We have entered all the info from the 1099-Rs into TT, but did not file the returns yet.
Since I can't touch the funds in this IRA til after March 15 without penalty, my plan is to withdraw the RMD amount from her IRA invested in mutual funds before April 1,2020 and identify it as an RMD for 2019. Several questions arise regarding this plan:
a.: The mutual fund we will use was already reported as paying out all of her RMDs for 2019. Will they issue a revised 2019 1099-R, or a new one? (I would like to file my 2019 return using the existing 1099-R soon).
b.: Should I mention this anywhere in the 2019 (If so, where)?
c.: any alternate suggestions would be greatly appreciated.
Thanks,
audiojr
