Steps to include the RMD that should have been taken in 2025 (if you choose, recommended).
Go to your Form 1099-R information in the Wages & Income section
Continue through adding the form ...
See more...
Steps to include the RMD that should have been taken in 2025 (if you choose, recommended).
Go to your Form 1099-R information in the Wages & Income section
Continue through adding the form and answering the questions, be sure to use Code 8 in box 7
8 – Excess contributions plus earnings/excess deferrals (and/or earnings) taxable in 2025
You reach a screen 'Do any of these situations apply to you?' Select 'I need to file a substitute 1099-R' until you reach, 'Let's go over any required minimum distributions (RMD)'
Select Yes for, 'Let's check if you missed any required distributions'
Continue, then enter the total RMD that was due by December 31, 2025 when you reach, 'Tell us the total RMD for your other IRA accounts'
Select Yes when you reach, 'Did you take a corrective distribution for your IRA?', then Continue
Select Yes when you're asked, 'Do you want to request a waiver to reduce the penalty?', then Continue
Enter the RMD amount that you are requesting a waiver on (amount of your missed payment), then Continue
Write your explanation in the next section, then Continue
You will then reach, 'Nice job finishing your waiver', Continue
Note: After the first RMD, all subsequent years' RMDs are due by December 31 of each year. Keep a paper trail for your tax files and Form 5329 will be generated with your tax return to include your explanation and waiver request.
2026: When you receive your 1099-R next year (for 2026) you will enter it as normal and the following code will tell the IRS it is not taxable in 2026 because it was reported in 2025.
P – Excess contributions plus earnings/excess deferrals (and/or earnings) taxable in 2025