I inherited a 401k from my deceased sibling in 2007. I was required to take distributions starting in 2008. The 401k company made a mistake and did not inform me of the need to take the distributions, even after I asked several times about whether RMD's were required. In 2019, the company realized that I needed to take the RMD from 2008-2019 and the funds were distributed. I received a 1099G with the total amount of the distribution for all years.
I included the total distribution as RMD for 2019. I submitted the return in Turbo Tax Premier and realized I forgot the Form 5329. The return has been accepted by the IRS and my State.
How do I report the 1099G? Do I report the 2019 portion on my 2019 return and all the previous year amounts on a 2018 Form 5329?
Will I need to file an amended return for 2019? for 2018? for other prior years?
The 401k company provided a letter stating their mistake and that all the previous RMD have been satisfied. Do you think this will be sufficient for the IRS to waive the excise tax? Also, I am set up to receive annual distributions of the RMD.
I read some information in the Turbo Tax help that the Form 5329 and the letter of explanation cannot be e-filed with an amended tax return and must be mailed to the IRS.
Can you help me sort out the steps I need to take to file the correct forms with the IRS? Does this affect my State return?
